• Binance, the world’s leading cryptocurrency exchange, announced that it has approved SHIB, Shiba Inu’s native token, and other cryptocurrencies as collateral assets on its lending platform.
• 22 new cryptocurrencies were added as loanable assets to Binance’s Flexible Loan and VIP Loan options.
• The BONE token of ShibaSwap could also be listed on Binance in the near future.
Binance Approves SHIB as a Collateral Asset
Binance, the world’s leading cryptocurrency exchange, announced on Friday, August 4th that it has approved SHIB, Shiba Inu’s native token, as a collateral asset on its lending platform. While announcing this latest cryptocurrency news , Binance said it had added new loanable and collateral assets for its users. In its blog post earlier today, Binance said that SHIB, COMP, IOTA, RLC, HOT, ENJ THETA and IOST are now collateral assets on its platform. This means users can borrow funds on the Binance lending platform and use these cryptocurrencies as collateral.
New Cryptocurrencies Added As Loanable Assets
Furthermore, users can borrow new assets including AUCTION PYR ILV KNC YGG GAS CELO and IRIS using the flexible loan option. Meanwhile NKN FARM DIA YGG OGN and ACA have been added to the VIP loan options.
BONE Token Could Be Listed On Binance
Binance is also considering listing the BONE token on its platform. BONE is the governance token of ShibaSwap which allows members of the Shiba Inu community to vote on upcoming proposals submit proposals and access future NFTs. The Shibarium mainnet launch could happen this month but there is no specific launch date yet.
SHIB Price Performance
SHIB the native token of the Shiba Inu ecosystem is currently up by more than 4% in last 24 hours At press time price of SHIB stands at $0 00000861
Conclusion
The addition of SHIB IOTA and other cryptocurrencies has made them available for borrowing loans using them as collaterals These new listings will bring more liquidity into these tokens allowing users to gain more from their trading activities