Binance approves Shiba Inu as loanable and collateral assets

Daily Insider News

Binance has recently approved Shiba Inu (SHIB) as a loanable and collateral asset on its Flexible Loan and VIP Loan services, as per their announcement on August 4th. Alongside SHIB, the cryptocurrency exchange is adding 22 more cryptocurrencies as loanable and collateral assets to the same services.

The addition of Shiba Inu as a collateral asset has sparked speculation about the potential listing of Bone ShibaSwap (BONE) tokens on Binance. This speculation coincides with the imminent launch of the layer-2 blockchain, Shibarium, which is expected to happen in August.

Furthermore, Binance has expanded its Flexible Loan service by incorporating eight new loanable assets, while its VIP Loan service will now include six new loanable assets.

In a separate announcement, Binance has introduced Nem (XEM) as a newly available borrowable asset. The XEM/USDT pair is now supported on the cross-margin trading platform.

Following the successful listing of BONE on various cryptocurrency exchanges, such as OKX, Huobi, and Crypto.com, Binance is also considering listing the BONE token. However, the token’s potential inclusion is contingent on the forthcoming Shibarium mainnet launch, which fulfills one of the listing prerequisites for new tokens. The lead developer of the project, Shytoshi Kusama, had previously disclosed the possibility of the Shibarium launch happening in August.

Leave a Reply

Your email address will not be published. Required fields are marked *