BitPay has announced that its platform can now accept Shiba Inu (SHIB) payments, with users able to purchase, store, and trade the digital currency using the BitPay Wallet app. The Dogecoin-rival may have started out as a joke, but thanks to an active ShibArmy and responses from AMC Theatres and Newegg, SHIB has risen to the top of the list of currencies to add. Shiba Inu is now among the top 15 cryptocurrencies on CoinMarketCap, based on market capitalization.
“The Shiba Inu community is enthusiastic about their coin and committed to providing users with venues to spend SHIB,” said Stephen Pair, CEO of BitPay, a renowned cryptocurrency payment provider.
“BitPay thinks that the more currency holders participate in the community, the greater the knowledge and acceptance of blockchain technology, paving the path for blockchain payments to disrupt the way consumers and companies receive and spend money.”
The meme token has joined the list of supported cryptocurrencies with BitPay, which includes Bitcoin, Ether, Bitcoin Cash, Litecoin, Dogecoin, and numerous stablecoins.
According to BitPay, the change was necessitated after the firm received an excessive amount of demands from community supporters, the ShibArmy, to incorporate the meme coin as a payment option.
It also stated its delight with the token’s increasing value, inclusion, and attempts to make it more decentralized, including its integration into the Shiba Inu ecosystem’s ShibaSwap, a decentralized exchange based on the Ethereum network.
Bitpay customers will now be able to spend their SHIB tokens using the Bitpay virtual card, which functions as a wallet, at any Mastercard-accepting user outlet. The transaction will entail either changing their SHIBokens into USD or paying entirely in SHIB, depending on the outlet’s preferred payment method, which will ensure a smooth transaction.
On a cryptocurrency exchange, the Shiba Inu has been included as a trading option. Bitstamp
Users will be able to purchase gift cards at hundreds of businesses across industries via the firm’s app, in addition to purchasing at other locations. Currently, Bitpay accepts cryptocurrency payments from a large number of firms in a variety of industries, including travel, software, entertainment, and gaming. Amazon, Walmart, Delta, the hard crypto wallet maker Ledger, Microsoft, Twitch, and Fast Private Jet are among them.