In what is turning out as an expansion of its frontiers, Shiba Inu (SHIB) now trades in the British Virgin Islands.
Shiba Inu’s Entry into the British Virgin Islands
Backpack, a British Virgin Islands-regulated crypto exchange and wallet provider, announced that SHIB is now live on its platform.
Trading is live for $SHIB — https://t.co/uqi9xnDDn0
Dog token fun pic.twitter.com/JJAmf0f1vC
— Backpack 🎒 (@Backpack) May 20, 2024
Shiba Inu, the dog-themed token commenced trading at 10:00 AM (UTC) and is paired against Circle’s stablecoin (USDC) on Backpack.
The SHIB entry into the British Virgin Islands on Backpack brings the total crypto assets on the exchange to 25. Notably, all crypto assets on Backpack are traditionally paired against USDC. With Shiba Inu going live and users commencing trading, recorded volume did not cause a significant impact on the trading price of SHIB.
Backpack allows users to buy and sell various crypto assets, including Bitcoin (BTC), Solana (SOL), Ethereum (ETH), and Dogwifhat (WIF). The platform, launched last year, is registered in the British Virgin Islands. However, it has multiple operating bases in various places globally including Africa and Europe.
Backpack boasts a 24-hour trading volume of $27.88 million reflecting a 58% daily surge. Out of the 25 crypto assets now listed, SHFL/USDC is the most active pair in trading. It has registered a 24-hour volume of $18.06 million.
Expanding the Reach of Shiba Inu
The listing of Shiba Inu on Backpack further expands the frontiers covered by the dog-themed token, especially for members of the community. Recently, Shiba Inu bagged a major listing on PayPal. Traders in the United States can now purchase the token on MoonPay via PayPal, a move that extends the reach of the asset.
In another development, Shiba Inu holders recently gained access to spend SHIB on Polygon and Binance Smart Chain. Notably, CoinGate integrated Shiba Inu and opened up transactions to major brands such as Nike and Airbnb services.
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