Shiba Inu (SHIB), the second-largest decentralized meme token, has recorded a new milestone following the strategic partnership between Binance Pay and Lyzi. The partnership aims to take crypto payments in France and Europe in general to the next level.
On Tuesday, Binance sealed a partnership with a France-based crypto payments application Lyzi to enable Binance Pay users to make payments using several cryptocurrencies including Shiba Inu (SHIB) for their daily purchases through the Lyzi App and its web of supported merchants.
According to the Binance press release, over 440 merchants are already using the solution in France with 330 merchants across Europe showing interest in the Lyzi crypto-native payment app.
Get your /𝘤𝘳𝘶𝘩-𝘴𝘢𝘢𝘢𝘢𝘢𝘯𝘵/ with crypto!
We partnered with Lyzi so #Binance users can pay with crypto at hundreds of merchants across France and Europe.
From crypto-friendly bakeries to car dealerships, there's a lot in store for you (literally).
— Binance (@binance) June 6, 2023
What does this mean for SHIB?
The SHIB token is among the limited crypto assets supported on Binance Pay. Therefore, the partnership between the top crypto exchange and Lyzi will be of great benefit to SHIB, especially in terms of users and exposure.
As SHIB gains more traction courtesy of the latest Binance Pay partnership which adds to the lineup of use cases and businesses with support for SHIB, the price of the meme token could record a significant boost in the coming months. Recall that developments like this contributed enormously to SHIB price deleting two zeros in the past two years.
To what extent can SHIB’s usage for payment settlement via the Lyzi application affect the growth of the asset’s price? Can this alone drive SHIB to the highly coveted $0.01 price point? Of course, no. The community would have to build more use cases for the token as well as burn and stake more volume to cause a considerable boost in the price of Shiba Inu.
It bears noting that there has been a massive burn of SHIB tokens by the teeming community week in and week out. As earlier published by TimesTabloid, over 4 billion Shiba Inu tokens were taken out of circulation last week.
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