Student Coin (STC) ICO


I wanted to invest in ICO for Student Coin (STC) but im not sure about the shariah-compliant of its project.
I have read Mufti Faraz Adam’s research paper on Shariah Compliance in Token Offering.
However, I am still not clear with Riba-based conventional financial services part highlighted in the paper with the STC future project.

Here is general idea of STC’s projects and aims:

The aim of the project is to put the tokens and blockchain into the mainstream-
Student Coin is a first platform that allows to perform the wide-scale

tokenization for people, organizations, corporations, startups and
decentralized finances (DeFi). The wide-scale tokenization is a process that
needs an easy-to-use and universal ecosystem that is constructed by the
Student Coin. With the STC ecosystem everyone will be able to easily create
any kind of token and develop it in the long run. Student Coin will allow for
tokenizing people, firms and organizations, as well as, manage token utilities,
perform crowdfunding and easily list new projects.

I also attach a link of its whitepaper and a screenshot of their future utility token.
I want to know whether the loan token (DeFi) and interested based token for business utilities from the whitepaper make the ICO non-shariah compliant or not.


STC whitepaper link:

Best regards,