VeChain
VET#76VET is the coin of VeChain, a proof-of-stake blockchain for supply-chain apps, staked to secure the network and generate the VTHO gas token.
- Market cap
- $759.55M
- Volume 24h
- $11.69M
- All-time high
- $0.281
- −96.86% from ATH
- Circulating supply
- 85.99B of 86.71B
Does not clear all 8 Shariah criteria. Needs caution: nature of the asset, gambling (maysir), business model, and excessive uncertainty (gharar).
- 4 pass
- 4 caution
- 0 fail
Verdict history
- DoubtfulCurrent
First publication
Fundamentals, market picture and news will appear here.
Halal analysis
Can a Muslim hold VeChain?8 Shariah criteria
4 pass · 4 caution · 0 failHolding VET pays nothing since Hayabusa; staking rewards in VTHO come from block production by validators and are not guaranteed.
Riba means interest or any guaranteed increase on a loan. Until the Hayabusa upgrade (mainnet on about 2 December 2025), every VET balance produced VTHO just by being held, which some saw as a return on mere ownership. That ended: the thor v2.4.0 release notes say VTHO issuance stopped at the fork block and restarted as block rewards under Delegated Proof of Stake. New VTHO is now created per block as a function of staked VET.
Validators stake at least 25 million VET and produce blocks; smaller holders lock VET in StarGate and delegate it, and when a validator has delegators, 70% of its block rewards go to them. If a validator produces no blocks, no rewards are created. The MiCA white paper says rewards are variable and not guaranteed. The staked VET is not lent to anyone and is returned on unstaking. Some scholars see delegation as borderline because the delegator does no work himself, and the staking docs describe no slashing of the stake; this keeps the score below the top of the pass band.
VeChainThor is a working network and VET has clear roles, but official religious bodies disagree on whether cryptocurrency is property (mal).
Mal is property that Islamic law recognises as having value and that can be owned and traded. VeChainThor has run since June 2018 and had processed about 159 million transactions by 27 September 2026. VET is the staking asset that secures the network and the source of VTHO, which pays every transaction fee. Malaysia's Securities Commission Shariah Advisory Council (2020), for assets under its supervision, treats digital currency without an underlying asset as goods ('urudh) that may be traded on registered exchanges.
Other tier-1 bodies disagree: Egypt's Dar al-Ifta (2017), the UAE General Authority of Islamic Affairs (2018), Turkey's Diyanet (2017) and Indonesia's MUI (2021) prohibit dealing in cryptocurrencies (MUI allows only crypto with an underlying that meets the conditions of a tradable good), and the OIC Fiqh Academy (2019) deferred a ruling. None of them names VeChain. Because authoritative bodies disagree, this criterion cannot be 'pass'. Network activity is modest, about 31,000 transactions a day in late September 2026.
- Resolutions of the Shariah Advisory Council of the SC - Securities Commission Malaysia
- Ruling on trading and dealing in Bitcoin - Dar al-Ifta al-Misriyyah
- Kripto paraların kullanımının dini hükmü nedir? - Din İşleri Yüksek Kurulu (Diyanet)
- Keputusan Ijtima' Ulama Komisi Fatwa se-Indonesia VII tentang Hukum Cryptocurrency - Majelis Ulama Indonesia
VET is not a gambling token, but futures make up most of its trading on Binance and its price swings around upgrade news.
Maysir is gambling: winning or losing by chance rather than through productive exchange. Ordinary price swings are not maysir, and VET has no chance-based payout of its own. The market around it is speculative, though. On 27 September 2026 (a single 24-hour snapshot), Binance futures VETUSDT volume was about $9.6 million against about $2.0 million on Binance spot, so futures were about 83% of VET/USDT volume on that exchange. News reports describe a sharp rally with a surge in derivatives volume ahead of the September 2026 Interstellar upgrade.
There is no significant memecoin or betting activity on the chain itself: DefiLlama lists only small DEXs, staking and governance-incentive protocols. A real function exists, so the asset is not built for gambling.
Fees are burned or paid to validators, but VeChain Foundation, which runs the project, does not publish its revenue mix or the size of its VET reserve.
This criterion asks how the issuer or protocol earns, and whether any of that income is impermissible. At protocol level there is no company collecting revenue for VET holders: the base part of every transaction fee is burned, and the priority part goes to the validator that proposed the block, as payment for processing transactions. VeChain does have an identifiable issuer: VeChain Foundation San Marino S.R.L., named in VET's MiCA white paper.
That document says shareholders contributed VET to the company as a reserve, which it uses to cover operating costs, and that its business is technology development, IT consultancy, database management and application hosting. These activities are permissible in kind, but the white paper gives no revenue breakdown, no reserve size and no statement on interest income, and its financial statements are filed in San Marino rather than published. ShariaQuant (a tier-2 screening) found no impermissible protocol revenue. Because the issuer's revenue mix is unknown, this criterion is at caution.
Supply is capped and the code is open, but the foundation can change reward rules, and who controls the new validator set is not disclosed.
Gharar is excessive uncertainty or hidden information in a deal. Much is transparent: VET has a fixed maximum supply of 86,712,634,466, about 85.99 billion were circulating on 27 September 2026, the VTHO issuance formula is published, and the thor node software is open source with hard forks announced in advance with activation blocks. Some opacity remains.
Until December 2025 blocks were produced by a limited set of authority nodes under Proof of Authority; the network now has about 100 validators, but how stake is spread among them, and how much the foundation and its partners control, was not found. The MiCA white paper itself warns of stake concentration and says the issuer may limit or suspend VTHO token assignments, and that governance proposals may change fees, reward distribution or issuance. The size of the foundation's VET reserve is not disclosed. This is partial, not critical, opacity: nothing shows that new VET can be minted beyond the cap.
VeChain is used for supply-chain data, sustainability rewards and staking; no interest-based lending protocol was found on the chain.
This criterion looks at what the network is actually used for. VeChain presents itself as infrastructure for supply-chain tracking, product provenance and sustainability, and its website cites more than 5 million users and 350 apps. Its largest consumer programme, VeBetter, rewards people with B3TR tokens for actions such as using reusable cups or recycling. On-chain finance is small: DefiLlama listed about $1.9 million of DeFi value on VeChain on 27 September 2026, made up of StarGate staking, a governance-incentive app (veDelegate) and small DEXs, with no lending protocol listed.
No notable share of gambling or interest-based use was found, so the status is pass. The score is held back because usage data come mostly from the project and from secondary trackers.
Fully paid spot VET is widely available, and it can be held in one's own wallet.
This criterion asks whether the asset can be owned in a permissible way. VET trades spot, with full payment and delivery, on major exchanges such as Binance, and it can be withdrawn to a self-custody wallet such as VeWorld, where the owner controls it directly. The MiCA white paper notes that VET is already admitted to trading on several crypto-asset service providers. Ownership therefore does not depend on derivatives or leveraged wrappers.
VeChain offers real, if modest, benefits in supply-chain transparency and sustainability rewards, with low energy use and no major documented harm.
Maslahah weighs public benefit against harm. The benefit is real but modest in scale: VeChain supports product provenance and supply-chain data, and VeBetter rewards sustainable habits. The network's energy use is low; the MiCA white paper reports about 23,330 kWh for the network before the move to staking. No large fraud, sanctions-evasion or exploitation pattern tied to VeChain was found in this review, although that search was limited. Speculative trading losses are counted under maysir, not again here.
How you can use it
Tap a card for the ruling and sourcesBuying VET with full payment and immediate delivery is widely available on major exchanges, and coins can be moved to a self-custody wallet such as VeWorld. Spot is acceptable for a DOUBTFUL asset for those who follow the permissive view.
No US spot exchange-traded fund holding VET was found. Some European exchange-traded products are reported to give VET exposure, but their structure (whether they hold VET itself, lend it or earn interest) was not verified, so they cannot be rated pass.
Tier-1 bodies such as Indonesia's MUI rule that using cryptocurrency as currency is not permissible, and paying with crypto is not allowed in Indonesia and is banned in Turkey. VET is mainly used for staking and value transfer on VeChainThor rather than for retail payments.
Delegating VET through StarGate to a working validator pays VTHO block rewards for validation work, is not guaranteed, and keeps the VET locked in the protocol, returned to the owner on unstaking. It is rated pass. Some scholars see delegation as borderline because the delegator does no work himself, and the docs describe no slashing. Exchange staking products are caution: their source of return must be checked product by product.
Margin trading in VET is offered on major exchanges but is never acceptable: it is a deferred exchange with borrowed money and leverage (AAOIFI SS 20).
VET futures and perpetual contracts made up about 83% of VET/USDT volume on Binance in a 27 September 2026 snapshot, but futures, perpetuals and options always fail under AAOIFI SS 20: deferred exchange without delivery, usually with leverage.
No lending protocol on VeChainThor was listed by DefiLlama, but lending VET through exchange or third-party lending programmes pays depositors interest from borrowers. This is riba.
Exchange 'earn' products for VET often do not disclose whether returns come from staking or from lending, so their source is unclear and they are rated caution; products based on lending would fail. Native StarGate delegation is assessed separately above.
Scholars quotes
Penggunaan cryptocurrency sebagai mata uang hukumnya haram, karena mengandung gharar (ketidakjelasan), dharar (bahaya) dan bertentangan dengan Undang-Undang nomor 7 tahun 2011 tentang Mata Uang dan Peraturan Bank Indonesia nomor 17 tahun 2015 tentang Kewajiban Penggunaan Rupiah di Wilayah Negara Kesatuan Republik Indonesia.Sebagaimana mata wang yang lain, mata wang digital hendaklah tidak digunakan sebagai bayaran kepada barangan, perkhidmatan dan aktiviti tidak patuh Syariah seperti pembelian dadah, pelacuran, perjudian dan pendanaan aktiviti keganasan serta penggubahan wang haram.The SAC has also resolved that investment and trading of Digital Assets that fulfil the above requirements and which are traded on Digital Asset Exchange (DAX) registered with SC are permissible.Third: In light of the above and given the significant risks associated with this type of currencies and the instability of their transactions, the Council of the Academy recommends pursuing research and studies on issues affecting its ruling.Bitcoin is a digital currency that does not meet the legal and Sharia criteria that make it a currency subject to the rulings of dealing with official legal currencies recognized internationally.بناءً على ذلك: فلا يجوز شرعًا تداول عملة "البتكوين" والتعامل من خلالها بالبيعِ والشراءِ والإجارةِ وغيرها، بل يُمنع من الاشتراكِ فيها؛ لعدمِ اعتبارِها كوسيطٍ مقبولٍ للتبادلِ من الجهاتِ المخُتصَّةِ، ولِمَا تشتمل عليه من الضررِ الناشئ عن الغررِ والجهالةِ والغشِّ في مَصْرِفها ومِعْيارها وقِيمتها، فضلًا عما تؤدي إليه ممارستُها من مخاطرَ عاليةٍ على الأفراد والدول.Second, the native DPoS Staking mechanism via StarGate is a Halal, opt-in activity.According to research and opinion of experts so far, cryptocurrency is not considered ‘ maal ’ (wealth) in Sharia.Muhammadiyah memandang transaksi dan investasi kripto pada dasarnya mubah (boleh) tetapi dengan syarat tertentu.The opinion on this is the same as doing the same with any halal assets such as shares – 1) is permissible, 2) is more debatable and there are differing opinions on short-term trading.Our current position is 'tawaquf'; we can't say it is halal or haram, but we say it is better not to engage in itAs I mentioned at the beginning of this article it is not necessary to substantiate the permissibility of something as long as there are no prohibited factors involved in it or surrounding it.AI-assisted analysis checked against sources. Not a fatwa or investment advice.
Where it trades
14 exchanges from our coverage · no referral links
KrakenCentralized · VET/USDVolume 24h$185.3KReliability7.4Halal productNo halal product- BBybitCentralized · VET/USDTVolume 24h$129.61KReliability7.1Halal productIslamic account
- CCrypto.com ExchangeCentralized · VET/USDVolume 24h$96.39KReliability7.0Halal productNo halal product
BinanceCentralized · VET/USDTVolume 24h$1.71MReliability6.7Halal productShariah-compliant earn
Coinbase ExchangeCentralized · VET/USDVolume 24h$398.77KReliability6.6Halal productNo halal product
UpbitCentralized · VET/KRWVolume 24h$715.16KReliability6.5Halal productNo halal product
BitvavoCentralized · VET/EURVolume 24h$665.89KReliability6.5Halal productNo halal product
GateCentralized · VET/USDTVolume 24h$97.83KReliability5.9Halal productNo halal product
BingXCentralized · VET/USDTVolume 24h$81.09KReliability5.8Halal productNo halal product
WhiteBITCentralized · VET/USDTVolume 24h$188.4KReliability5.7Halal productNo halal product
KuCoinCentralized · VET/USDTVolume 24h$293.59KReliability5.6Halal productNo halal product
BitgetCentralized · VET/USDTVolume 24h$95.46KReliability5.0Halal productNo halal product
MEXCCentralized · VET/USDTVolume 24h$210.96KReliability4.7Halal productNo halal product
PionexCentralized · VET/USDTVolume 24h$51.52KReliability4.0Halal productNo halal product
No exchanges match this filter
Listings as of Sep 18, 2026
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