Singularity Finance to launch Shariah Blockchain Digital Bank from Bahrain
UAE and Egypt rooted Blockchain enabled Singularity Finance will be launching soon, with an aim to develop the first Shariah compliant Blockchain Digital Bank. As posted on their website, Singularity is a neo-banking app that can be used by people and businesses alike to manage their identity, accounts, payments, bills, etc.
Egyptian tech entrepreneur Mohamed Taysir and Hugo Philion among others created Singularity Finance. Mohamed Taysir, CEO and Founder of Singularity Finance, who announced the launch on LinkedIn, is already a strong Blockchain advocate and is part of Flare Blockchain Network, as well Founder of Drakon Tech solutions.
The company uses Blockchain technology, Artificial Intelligence, and more to enable people and businesses to manage their accounts, digital identities, payments, and bills.
They are launching several products including Singularity Software POS, allowing users to pay through their mobile instead of hardware terminals. Singularity Finance will also launch a non-custodial digital assets Wallet called Singularity Crypto.
CEO and Co-founder Mohamed-Taysir stated during the 2nd Royal Investment Summit in the UAE, “We intend to expand into several markets within the MENA region with Bahrain being our primary jurisdiction”
In 2020 US based Fintech bank called Messenger Bank also set up base in Bahrain.