Binance has taken an innovative step by incorporating Shiba Inu (SHIB), among other crypto assets, as a collateral option on its platform. The move not only demonstrates the continual evolution of the crypto-financial landscape but also has sparked significant interest in the Shiba Inu ecosystem.
Expanding the Horizons
Binance has announced a significant expansion of its loan offerings by adding 22 new digital assets to its Flexible Loan and VIP Loan services. Among the newly included collateral assets are renowned names like Shiba Inu (SHIB), Compound (COMP), and Theta Network (THETA).
The Flexible Loan service is receiving eight new loanable assets, such as AUCTION, PYR, ILV, KNC, YGG, GAS, CELO, and IRIS, and eight new collateral assets, including the already mentioned SHIB, COMP, and others like IOTA, RLC, HOT, ENJ, THETA, and IOST.
Not stopping at the Flexible Loan service, Binance is also adding six remarkable assets such as NKN, FARM, DIA, YGG, OGN, and ACA to its VIP Loan service. This move underscores the crypto exchange’s commitment to providing diverse financial options to its users.
Anticipation of Shibarium: A Step Towards BONE Listing?
With Shiba Inu’s addition as a collateral asset, there’s heightened speculation around the potential listing of BONE tokens on Binance. This excitement is tied to the anticipated launch of the Layer-2 blockchain Shibarium later this month.
The Shibarium mainnet launch seems to be one of the key prerequisites for the BONE token’s listing. BONE, a significant part of the Shiba Inu ecosystem, has already found its way to various cryptocurrency exchanges like OKX and Crypto.com.
Apart from the considerable addition to its loanable and collateral assets, Binance has also introduced Nem (XEM) as a newly available borrowable asset, supporting the XEM/USDT pair on the cross-margin trading platform. This demonstrates Binance’s continual effort in enhancing its offerings and adapting to the ever-changing landscape of the cryptocurrency market.
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