Page 61 - CMA Journal (Jan-Feb 2026)

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Comparison: X8X vs OneGram

Feature X8X Token OneGram
Backing Diversified basket of fiat and gold Physical gold reserves
Stability Algorithm adjusts supply to stabilize Gold-backed, intrinsic value provides stability
value
Shariah Compliance Certified by Shariah advisory boards Fully Shariah-compliant, gold-backed
Safe-Haven Role Protects against volatility, inflation, Preserves wealth, safe-haven during crises
currency depreciation
Blockchain Features Transparent, smart contracts, self- Transparent, verifiable reserves, automated
regulating transactions
Asset Allocation Benefit Diversifies portfolio with stable digital Adds gold-backed digital alternative for Islamic
asset portfolios

X8X combines blockchain transparency with diversified alternative to traditional safe-haven investments like
backing to hedge against inflation, currency gold or government bonds.
depreciation, and market volatility.
Implications for Ethical Digital Finance
OneGram: Gold-Backed Islamic
Islamic cryptocurrencies reflect a broader trend in
Cryptocurrency ethical fintech and decentralized finance (DeFi). The DeFi
OneGram is one of the earliest Shariah-compliant sector has grown rapidly, with total value locked
cryptocurrencies fully backed by physical gold. Each surpassing USD 50 billion globally.
token corresponds to a specific amount of gold held in By combining Shariah principles with blockchain, these
secure vaults, ensuring intrinsic value. assets foster transparency, accountability, and social
Gold has historically served as a safe-haven asset, responsibility. Islamic cryptocurrencies can support
protecting wealth during economic crises and tokenized financial ecosystems, representing real-world
inflationary periods. According to the World Gold assets such as property, commodities, infrastructure,
Council, global gold demand reached 4,700 tonnes in and welfare programs. This can improve liquidity,
2023, showing its continued relevance. By linking digital accessibility, and efficiency in Islamic markets.
tokens to gold reserves, OneGram merges traditional Their adoption may also encourage governments and
safe-haven strategies with blockchain technology. financial institutions in Muslim-majority countries to
OneGram also incorporates transaction fees that are explore blockchain-based payments, transparent zakat
used to purchase additional gold reserves, gradually distribution, and public finance management. Examples
increasing the intrinsic value backing each token. from UAE and Japan show how global best practices can
Blockchain transparency allows investors to verify guide regulatory and operational frameworks.
reserves, building confidence and reducing risk. Conclusion
OneGram thus offers a reliable option for
Shariah-compliant portfolios. Islamic cryptocurrencies represent a technological and
ethical innovation at the intersection of blockchain and
Islamic Cryptocurrencies and Asset Shariah finance. Projects like X8X and OneGram
Allocation demonstrate that digital assets can comply with Islamic
principles while addressing volatility and speculative
Islamic cryptocurrencies introduce a new asset class in concerns.
Shariah-compliant portfolios, complementing tradition-
al assets like equities, sukuk, commodities, and real Through asset-backed structures, transparent
estate. blockchain systems, and ethical governance, they offer
safe-haven investment options, enhance portfolio
Key contributions: diversification, and strengthen financial inclusion.
• Asset-backed structures reduce speculative risk and As blockchain technology evolves, Islamic
align with Islamic principles. cryptocurrencies are poised to merge traditional
• Global accessibility enables investors to participate safe-haven assets with decentralized financial systems,
regardless of location. shaping the future of global finance.
• Blockchain transparency ensures monitoring of (This article is prepared by Dr. Maiyra Ahmed, Assistant
assets and verification of underlying reserves.
Director, R&P, under the guidance of Shahid Anwar, Senior
As safe-haven assets, these cryptocurrencies provide Director R&P)
protection during market instability, offering a digital
ICMA’s Chartered Management Accountant, Jan-Feb 2026 59