Luno Certifies All Seven Crypto Staking Products as Shariah-Compliant
The review was conducted by Sharlife, a Shariah advisory firm registered with the Securities Commission Malaysia.
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TL;DR
- On November 10, Luno announced that all seven of its Malaysian staking wallets and its Large Cap Bundle are now Shariah-certified.
- The four newly certified staking products are Polkadot (DOT), Avalanche (AVAX), Cosmos (ATOM), and NEAR Protocol (NEAR).
- Ethereum (ETH), Solana (SOL), and Cardano (ADA) were certified earlier, between December 2024 and October 2025.
- The review was conducted by Sharlife, a Shariah advisory firm registered with the Securities Commission Malaysia.
- The certification could clarify and increase participation in the crypto market for Muslim Malaysian investors.
Cryptocurrency exchange Luno Malaysia announced that its seven staking products and Large Cap Bundle have secured independent Shariah certification. The certification follows a comprehensive review by Sharlife, a Shariah advisory firm registered with the Securities Commission Malaysia.
Luno now describes itself as the first regulated VASP in Malaysia to offer a full range of Shariah-certified passive-growth products.
Luno’s Country Manager for Malaysia, Scarlett Chai, said, “When we certified Ethereum staking as Shariah-compliant in December 2024, we made a commitment to expand our Shariah-compliant range so that every Malaysian could invest with assurance. Today we deliver on that promise.”
What Was Reviewed
Sharlife’s review assessed four newly added staking assets: Polkadot (DOT), Avalanche (AVAX), Cosmos (ATOM), and NEAR Protocol (NEAR). Ethereum (ETH), Solana (SOL), and Cardano (ADA) were previously certified.
Armanie Advisors certified ETH in December 2024. SharLife previously reviewed and certified SOL and ADA staking in October 2025.
Along with the four assets, Sharlife also certified Luno’s Large Cap Bundle. The large cap bundle is an automatically rebalanced portfolio that tracks the CoinDesk 5 Index available in Malaysia.
“Malaysia pioneered the modern Islamic finance industry, from the first Islamic bank in 1983 to the world’s first green sukuk. It is only right that Malaysia also leads in bringing digital assets within reach of Islamic finance. With over 1 million customers in the country, we are honoured to be the exchange that makes this possible, and we will keep working with our Shariah advisers to bring new assets and products under certification as we grow,” said Chai.
What the Certification Means
A Shariah evaluation examines product structure and mechanics. It looks at how a product works and what it holds. This includes the contracts involved, how rewards are generated and paid, and how a portfolio is managed. It also ensures that staking rewards are not earned through interest-bearing (riba) mechanisms.
Sharlife founder and CEO Mohamad Zulhaikal Mat Zukri explained the review process. “Our Shariah review examined the relevant contractual arrangements and operational mechanisms of the staking services, including how transactions are validated and rewards are distributed. For the Large Cap Bundle, we assessed its investment arrangement, asset selection and rebalancing mechanisms, including the applicable Shariah screening process.”
Why This Matters
Muslim investors have hesitated to participate in the crypto market because they are unsure whether crypto products and staking comply with Islamic principles. Independent evaluations of product and reward mechanics can provide much-needed clarity, as Sharlife CEO Zulhaikal highlighted.
It also opens up the door for participation in the crypto market. While the review only covers the specific products mentioned, it does show that Luno is open to adapting its products for individuals typically not considered in the market.
It should be noted that the review does not imply that staking, portfolio rewards, or returns are guaranteed or risk-free.
