In a landmark development for Islamic finance and digital banking, ruya (رويا), the UAE’s digital-first Islamic bank, has become the first Islamic bank globally to offer customers direct access to virtual asset investments, including Bitcoin, through its mobile app, according to an announcement.

The new service is made possible through a strategic partnership with Fuze, a licensed leader in virtual asset infrastructure. Together, ruya and Fuze aim to provide a secure and ethical entry point into the digital economy, with services that are fully Shari’ah-compliant and aligned with the principles of Islamic finance.

“At ruya, we are committed to transforming the financial landscape in the UAE by offering forward-thinking services while staying true to our mission of ethical Islamic banking,” said Christoph Koster, CEO of ruya. “By integrating virtual assets into our investment platform, we aim to empower our customers to participate in the digital economy sustainably and responsibly. We can also assure our customers that the virtual assets we are offering on our ruya investment platform are Shari’ah-compliant, providing much-needed certainty.”

The launch comes at a time of rapid growth in the UAE’s virtual asset sector. In the year ending June 2024, the country received more than $30 billion in virtual assets, marking a 42% year-on-year increase, significantly outpacing the regional average of 11.7%, according to the announcement. The move underscores the UAE’s emergence as a major hub for digital finance in the MENA region.

“Partnering with ruya is a big step towards making virtual assets a seamless part of everyday banking,” said Mohammed Ali Yusuf (Mo Ali Yusuf), Co-Founder and CEO of Fuze. “Together, we’re combining Fuze’s cutting-edge infrastructure with ruya’s commitment to ethical Islamic banking.”

Unlike other platforms that encourage speculative crypto trading, ruya’s offering is embedded within a curated investment framework designed to support long-term financial growth, the company stated in the announcement. It will focus on transparency, fairness, and ethical investing—core tenets of Islamic finance.

To ensure accessibility and informed decision-making, ruya is also offering support through community centers and hybrid call centers, where customers can receive expert guidance on virtual asset investing.

A US bank is warning thousands of customers that their sensitive information may be at risk following an “administrative error.”

In a new filing with the Office of the Maine Attorney General, Bluestone Bank says an error in late February led to the unauthorized disclosure of personal data belonging to 7,605 customers.

According to the Bridgewater, Massachusetts-headquartered bank, personal and confidential information belonging to its customers was inadvertently sent to an unintended recipient on February 28th of this year.

“The personal information that may have been accessed includes the data we have on file for you, such as your name, address, social security number, and account number(s).”

Bluestone Bank says it has taken various steps to minimize the risk of potential harm to customers.

“The individual who received the information has signed a Certificate of Destruction, confirming that all information was promptly and securely destroyed and no information was retained…

We have further addressed this incident by reinforcing proper data handling procedures and mandating retraining on the appropriate management of customer data. In addition, we have evaluated and enhanced our existing protocols and controls to ensure this will not happen again.”

To prevent possible misuse of personal information following the incident, Bluestone Bank is offering its customers a complimentary membership to an identity-monitoring service for one and a half years.

Customers also have the choice of closing and reopening their bank accounts as a safety precaution.

Bluestone Bank had $1.5 billion in total assets as of November of 2024.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The number of Android and iPhone users hit by bank malware is skyrocketing as criminals increasingly shift to mobile devices.

In a new report, the cybersecurity firm Kaspersky says the number of smartphone users who encountered banking malware in 2024 soared 258% year-on-year.

“In 2024, the number of users who encountered mobile banking Trojans grew 3.6 times compared to 2023: from 69,200 to 247,949.”

The most active mobile malware targeting bank accounts was Mamont, commanding a market share of approximately 36.7% in 2024.

“This malware first appeared at the end of 2023 and is distributed mostly in Russia and the CIS. Its distribution schemes are ranging from ages-old “Is that you in the picture?” scams to complex social engineering plots with fake stores and delivery tracking apps.”

Countries in Europe and Asia were the most heavily impacted by mobile banking malware in the last year.

As for banking malware targeting PCs (personal computers), some of the most significantly impacted countries in 2024 were in Central Asia, Kaspersky says.

“As in 2023, the highest share of banking Trojans was registered in Afghanistan, where it rose from 6% to 9% in 2024. Turkmenistan was next (as in 2023), where the figure rose from 5.2% to 8.8%, and Tajikistan was in third place (again), where the figure rose from 3.7% to 6.2%.”

Going forward, Kaspersky’s senior web content analyst Olga Svistunova, says the level of sophistication that cybercriminals employ to reach users is only going to rise.

“Looking ahead, we expect financial phishing to become even more personalized and targeted, focusing on exploiting vulnerabilities in everyday digital habits, which will demand increased vigilance and thorough approaches to protection.”

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney