Binance has Greenlit Shiba Inu as Collateral Asset

As per the August 4 announcement by the world’s largest crypto exchange, Binance, Shiba Inu (SHIB), an Ethereum-based ERC-20 token created as an experiment in decentralized community building, is one of 22 new loanable and collateral assets that are added to firm’s Flexible Loan and VIP Loan services. 

Binance has Boosted Flexible Loan Offerings

With this development, Binance has boosted its Flexible Loan offerings with the addition of eight more loanable assets after much regulatory scrutiny. Six more loanable assets have been added to its VIP Loan service.

According to the company’s statement, multiple fresh collateral assets have been disclosed, including Shiba Inu, Compound, and Theta, and this has ignited investment speculation regarding the possibility of a listing of Bone ShibaSwap (BONE) tokens on Binance, that coincided along with the anticipated debut of the layer-2 blockchain, Shibarium, and that is expected to happen taking place in August.

Binance Brings Nem (NEM) as New Borrowable Asset

Binance announced Nem (XEM) as a new borrowable asset in an additional statement. The cross-margin platform for trading has begun accepting the XEM/USDT pair.

The upcoming launch of Shibarium’s mainnet, which satisfies some of Binance’s requirements for the addition of new token listings, is an essential requirement for the BONE token’s future inclusion on the exchange’s list of supported tokens.

Shiba Inu’s History

August 2020 established coin, Shiba Inu (SHIB), was created by an unknown creator named “Ryoshi.” Shiba Inu (SHIB) has swiftly become an increasingly prevalent and highly talked digital currency in the cryptocurrency market. Shiba Inu (SHIB), which has its roots in a culture of memes and was driven by the popularity of Dogecoin, has developed into an intricate environment with a community and extensive base of support.

Memecoin’s Growth

As the coin gained traction, the Shiba Inu (SHIB) network grew, advocating the coin through different social media channels and cooperating on new ecosystem advancements.

Shiba Inu (SHIB) is accepted by a number of notable cryptocurrency exchanges, including Binance, Coinbase, Crypto.com, KuCoin, and Uniswap.