Blockchain technology, including public ledgers and decentralized identities (DIDs), can ensure zakat reaches the rightful recipients while preserving their privacy. In Singapore, the shift to digital cash waqf results in a greater need for transparency and accountability through blockchain and smart contracts to ensure the proper use of waqf funds. For businesses, blockchain can reduce the issuance costs of micro sukuk, enabling micro, small, and medium enterprises (MSMEs) and small and medium enterprises (SMEs) in Malaysia and Singapore to raise funds. Blockchain also has much to offer to address the operational issues in Islamic financial institutions (IFIs), such as the technical Shariah non-compliance of foreign exchange (FX) spot. For murabaha transactions, smart contracts can address the current imbalance where IFIs provide guarantees without charging fees. Blockchain could also help manage IFIs’ liquidity risks through decentralized liquidity saving mechanisms (LSMs) particularly when combined with using cryptocurrencies such as stablecoins as Shariah-compliant alternatives to fiat currency.