Binance Lists Shiba Inu Among 22 New Collateral Assets

Binance Lists Shiba Inu Among 22 New Collateral Assets

Time Stamp: August 4, 2023 9:24 AM
Source Node: 2804142

With the launch of new collateral assets, Binance aims to cater to diverse investor needs.

Binance, a leading crypto exchange, has added Shiba Inu (SHIB), Compound (COMP), and Theta (THETA) among 22 new collateral assets.

The official announcement on August 4th unveiled the addition of 22 new collateral assets to Binance’s Flexible Loan and VIP Loan services.

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Shiba Inu’s inclusion was among the most notable, leading to assumptions about the prospective listing of Bone ShibaSwap (BONE) tokens on Binance. This development comes when anticipation is building around the Shibarium Layer-2 blockchain launch. It is worth noting that the network is expected to launch this month.

Binance’s expansion into new collateral assets marks a new phase for the crypto exchange. With eight new loanable assets added to the Flexible Loan service and six to the VIP Loan service, Binance continues to widen its offerings. These additions underline the crypto exchange’s efforts to cater to diverse investment needs and reflect a growing interest in various crypto assets.

In a related announcement, Binance introduced Nem (XEM) as a borrowable asset, with the XEM/USDT pair now available on its cross-margin trading platform. Furthermore, on August 4th, the company opened fee-free trading of BTC/FDUSD and ETH/FDUSD pairs.

The intrigue around the Shiba Inu collateral asset is intensified by developments in the Shibarium project. Following the testnet launch known as PuppyNet, BONE tokens have found listings on different crypto exchanges, including OKX, Huobi, and Crypto.com.

Binance’s recent additions and potential expansions signify a forward-thinking approach in the highly competitive and evolving crypto space. By incorporating trending assets like Shiba Inu, the crypto exchange positions itself as a dynamic player receptive to market changes and user interests.

Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
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