Binance Approves Shiba Inu as Collateral

Cryptocurrency exchange Binance has added 22 new loan assets and collateral to its flexible lending and VIP lending services.The exchange was announced on 4 August.

In its official announcement, Binance announced several new collateral assets including Shiba Inu (SHIB), Compound (COMP), and Theta (THETA). The event also sparked speculation about a possible listing of Bone ShibaSwap (BONE) tokens on Binance, coinciding with the upcoming launch of the second layer Shibarium blockchain expected to take place in August.

At the same time, the cryptocurrency exchange announced the addition of 22 cryptocurrencies as collateral-lending assets to its flexible lending and VIP lending services.

Screenshot of Binance’s new collateral announcement. Source: Binance

According to the announcement Binance has expanded its flexible lending service to include eight new lending assets. Its VIP loan service has been expanded to include six new loan assets.

In a separate ad Binance has introduced Nem (XEM) as a new lending asset. The XEM/USDT pair now supports a cross margin trading platform.

Since the launch of PuppyNet, Shibarium’s testnet, BONE has been listed on various cryptocurrency exchanges. including OKX, Huobi and Crypto.com.

Binance is considering listing the BONE token, and its eventual listing is subject to the upcoming launch of the Shibarium mainnet. which corresponds to one of the preconditions for listing new tokens. The main developer of the project, Shitoshi Kusama, previously announced the possibility of launching Shibarium in August.

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I'm Ankur Jain, and I'm thrilled to be part of the suboonews.xyz team as an editor. I call India my home, and I have a passion for crafting engaging and well-written articles. With a solid background of 7 years in this field, I bring a wealth of experience to my work. It's my pleasure to contribute to the informative and captivating content you'll find on suboonews.xyz. Stay tuned for some exciting stories and news pieces coming your way!

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