Binance Adopts Shiba Inu (SHIB) as a Collateral Asset

Per a new update today, Binance, the world’s largest crypto exchange by trade volume, shortlisted Shiba Inu (SHIB) and 21 other crypto assets to be incorporated as loanable and collateral assets on its VIP Loan and Flexible Loan Services.

The distribution of the newly incorporated digital assets went thus: Eight new assets were incorporated with the new collateral assets. Under the new loanable assets, six new cryptocurrencies were integrated within the VIP Loan Services, with eight others added as an expansion to the Flexible Loan Services.

Among the crypto assets listed, some notable mentions categorized under new collateral assets include Shiba Inu (SHIB), iExec RLC (RLC), Compound (COMP), Theta (THETA), etc.

On the other hand, cryptocurrencies like Acala (ACA) and Harvest Finance (FARM) were classed under VIP Loan Services. Finally, digital assets like Bounce (AUCTION), Vulcan Forged (PYR), IRISnet (IRIS), etc., were classified as Flexible Loan Services.

In another announcement, Binance also integrated Nem (XEM) into its exchange outlet to become the latest available borrowable commodity, implying that the XEM/USDT new cross-margin pair now exists on the platform.

Potential Shibarium Launch Might Birth The Listing Of BONE Token On Binance

Per multiple findings, Binance is purportedly considering the listing of the Shiba Inu ecosystem token BONE on its trading platform. However, a potential BONE listing on Binance would depend primarily on how fast and well the Shibarium mainnet launch would be.

According to the lead Shiba Inu developer, Shytoshi Kusama, the Shibarium launch is imminent, possibly playing out in August during the Blockchain Futurist Conference.

Notably, the recently released Shibarium testnet PuppyNet launch was enough for BONE to earn listings on standard exchanges like Huobi, Crypto.com, and OKX. However, Binance, with its high operating standard, is suspending the likelihood of listing BONE until after Shibarium is successfully launched.

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Chinedu Agbakwusi

Chinedu Agbakwusi is a medical student at the prestigious Nnamdi Azikiwe University with sound knowledge of the crypto space. I am here to be a reliable plug for well-researched crypto content ranging from crypto news to market analyses and blockchain inventions.