Traders around the world are now using the meme cryptocurrency with the help of BitPay Shiba Inu (SHIB) can accept.
BitPay, the world’s largest cryptocurrency payments company, said in an announcement Thursday, December 9, that merchants on its network can now accept payments. Shiba Inu announced that it can accept and integrate the meme coin into its BitPay Wallet app, which allows to store, buy, trade and spend cryptocurrencies.
ATTENTION: #shibarmy, we’re excited to announce consumers can now pay and merchants can immediately accept Shiba Inu (SHIB) for payments. Read more: https://t.co/xnWbmqMdzX #SHIB #shibainu #crypto pic.twitter.com/zCretwh87S
— BitPay (@BitPay) December 9, 2021
meme token, Bitcoin, Ether, Bitcoin Cash, Litecoin, Dogecoin and joined the list of supported cryptocurrencies, which includes several stablecoins. Some of the supported merchant(s) will now be able to automatically accept meme tokens.
According to BitPay, the company received so many requests from community supporters SHIBArmy to include meme money as a payment option that the move was quite necessary.
Currently, a large number of businesses in different industries such as Travel, Software, Entertainment and gaming accept payments in cryptocurrencies through Bitpay. These businesses include Amazon, Walmart, Delta, fixed crypto wallet maker Ledger, Microsoft, Twitch and Fast Private Jet, and this development is therefore thought to have a positive impact on the Shiba Inu in terms of price.
Last month, electronics retailer Newegg announced that it will begin accepting meme coins before the Christmas holiday season. The platform was the first BitPay client to do so. Cinema giant AMC has also confirmed that it will add the dog cryptocurrency to its payment options by partnering with BitPay in early 2022.
Although the coin started as a meme, AMC Theaters and Newegg are among the foremost proponents of the Shiba Inu as a form of payment. The cryptocurrency is growing in popularity and is still in the top 15 of the largest cryptocurrencies by market capitalization, despite starting from scratch in May.
In an announcement regarding the integration, BitPay CEO Stephen Pair said:
“The Shiba Inu community is passionate about coin and committed to providing these consumers with places to spend SHIB.
BitPay believes that greater community engagement from coin holders supports awareness and adoption, which helps move the blockchain industry to change the way consumers and businesses receive and spend funds and pave the way for blockchain payments.”
Besides, the main dog cryptocurrency was added to the platform much earlier and has been performing well ever since. In April, BitPay COO said that Dogecoin accounts for 10% of the company’s total payment volume.
Founded in 2011, the Atlanta-based company has been helping merchants increase crypto adoption significantly, almost alone.
CoinGate, a Lithuania-based BitPay competitor, was quicker than BitPay to add support for Shiba Inu payments in November.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.