CoinGate, a Lithuanian-based fintech company has announced the integration of Shiba Inu (SHIB) support for Polygon and Binance Smart Chain (BSC). The implication is a notable advancement for SHIB’s practical utility. This helps to open doors for transactions with major brands like Airbnb and Nike.
Enhancing Accessibility for Shiba Inu Holders
CoinGate, in an X post announced the integration, stating,
“We have added SHIB support for Polygon and Binance Smart Chain. Shibarmy, use your SHIB to book Airbnb, grab the latest games from Steam & PS5, refresh your wardrobe with Nike & Zalando, and more.”
CoinGate is a cryptocurrency payment gateway, that facilitates the acceptance of digital assets by traditional businesses. With the addition of SHIB support on Polygon and Binance Smart Chain, CoinGate is boosting accessibility for more SHIB holders. It is also providing them with opportunities to engage in real-world transactions.
Just recently, Shiba Inu traders in the United States were integrated to make purchases of the token on MoonPay via PayPal, extending the reach of the asset.
Leveraging Polygon and Binance Smart Chain
The integration enables SHIB users to utilize their holdings for a variety of everyday purposes. This includes booking accommodations on Airbnb, purchasing apparel from Nike, and acquiring the latest games from platforms like Steam and PS5.
The inclusion of major brands of international appeal showcases SHIB’s versatility as a medium of exchange beyond speculative trading. Notably, analysts say the move is expanding the frontiers of digital assets as a payment method like traditional fiat.
The decision to support SHIB on Polygon and Binance Smart Chain is strategic, considering the benefits offered by each blockchain. Polygon’s low fees make it an ideal environment for SHIB payments, enhancing user experience and reducing transaction friction.
Similarly, Binance Smart Chain’s robust infrastructure and vibrant ecosystem contribute to the accessibility and appeal of SHIB, catering to a diverse range of users. Members of the SHIB community consider this a major development. They see it as a reflection of the growing acceptance and adoption of SHIB and other cryptocurrencies in everyday transactions.