Kraken Exchange Dares Regulators, Lists Shiba Inu (SHIB)

In what seemed like a daring move on Tuesday, the U.S-based digital asset exchange Kraken has issued a bold statement that it will begin supporting the meme coin Shiba Inu (SHIB), on its platform immediately.

Kraken Announces SHIB Listing, As Coin Surges Massively

In the announcement, Kraken reveals the limits that will be involved in SHIB transactions, with a trading volume of no less than 50,000 SHIB (equivalent of $2), and also a minimum deposit of 373,000 SHIB ($16 equivalent). For the time being,  SHIB will only be tradeable on the USD and Euro pairs, and possibly in the near future, there could be provisions for Kraken Futures and Margin Trading for SHIB..

At press time, SHIB is ranking as the 11th largest cryptocurrency with a market cap of $27 billion, per Coinmarketcap data. And following the report of Kraken exchange listing the meme coin, SHIB has seen a surge of over 25.75% in the past 24 hours.

Calling The Bluff of The Regulators?

Meanwhile, many other exchanges have been showing their reservations with regards to listing Altcoins, especially as a result of the air of regulatory uncertainties around. This is even as many of their users have been pressuring the exchanges to list the coins. In November, Shiba Inu rose to an all-time high, and barely a week later,  SHIB surpassed 1 million holders.

Robinhood for instance, would still not list the Shiba Inu coin despite the fact that the Change.org petition requesting it to do so, has amassed over 500,000 signatures. And as TheCoinrise reported, Coinbase also decided against listing the Shiba Inu Coin.

From the look of things, it seems like Kraken does not wish to limit itself with the relatively ‘unclear’ regulatory climate for digital asset exchanges.

So far, Kraken is letting loose and fast becoming one of the least conservative exchanges, having about 93 assets in total on the exchange. Meanwhile, other major exchanges like Coinbase and Robinhood only supports 51 and 7 assets respectively on their platforms.