SHIB, Billionaire Backed Exchange Listing!

Coinhako, a Singapore-based cryptocurrency exchange, announced on Monday that it will list the Shiba Inu (SHIB). Singaporean users can now trade Shiba Inu against Singapore dollar (SGD), US dollar (USD) and Vietnamese dong (VND). Coinhako also mentions a wallet that allows SHIB to be stored safely.

SHIB will reach more Singaporean users

Last week, the company managed to get a letter of approval in principle from Singapore’s financial regulator to legalize transactions, making it one of the first local cryptocurrency companies to achieve such a feat. Yusho Liu, co-founder of the exchange, told Yahoo Finance Singapore that “trading volume on the exchange has increased by 1,000% since the beginning of the year.” The Singaporean entrepreneur now plans to increase the company’s headcount to 260 next year.

Coinhako has Tim Draper support behind it

The Singapore-based exchange managed to put its name on the map early on, after entering the market under the name Coinhako in 2014, with a six-figure investment from leading venture capitalist Tim Draper. Making a name for himself with forward-thinking bets on Skype, Twitch and Hotmail, Draper is also known as an early Bitcoin adopter, who predicts that the biggest cryptocurrency Bitcoin could reach $250,000 by the end of 2022. As we reported, Shiba Inu was listed by Gemini, Wealthsimple and other trading platforms this November. Now trading at 12th place, the meme token is trying to make up for the upcoming 20% ​​weekly declines. SHIB was among the top 10 cryptocurrencies in the past weeks, surpassing Dogecoin and Polygon, and rose to 8th place.

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