Binance's Decision To Accept SHIB, COMP, And THETA As Collateral Assets Signals Growing Acceptance Of Meme Coins

Zinger Key Points
  • Binance expands collateral assets to include Shiba Inu, Compound and Theta.
  • The cryptocurrency exchange's move could lead to an influx of new users.

Cryptocurrency exchange Binance BNB/USD on Friday announced the approval of Shiba Inu SHIB/USD, Compound COMP/USD, and Theta THETA/USD as collateral assets.

This move is part of Binance's ongoing efforts to expand its Flexible Loan and VIP Loan services.

The addition of these cryptocurrencies, along with the inclusion of 22 cryptocurrencies as collateral assets, is expected to provide users with more flexibility and options in their cryptocurrency lending and borrowing activities.

Binance's decision to include these assets underscores the growing acceptance and integration of diverse cryptocurrencies in the digital finance landscape.

The crypto exchange meanwhile, has expanded its offerings by incorporating NEM XEM/USD into its list of borrowable assets.

Also Read: Is USDC Losing Its Grip On The Stablecoin Market? 'Macroeconomic Headwinds Are Favoring Tether'

Furthermore, Binance has announced that the XEM/USDT trading pair is now supported on its cross-margin trading platform.

Binance is contemplating the addition of the BONE BONE/USD token to its platform.

The prospective listing is dependent on the anticipated launch of the Shibarium mainnet, a key requirement for the inclusion of new tokens.

Shytoshi Kusama, the chief developer of the project, had earlier hinted at the likelihood of the Shibarium launch taking place in August.

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Posted In: CryptocurrencyMarketsCollateral assetscrypto assetsCryptocurrency borrowingCryptocurrency Exchangecryptocurrency lendingDigital financeShytoshi Kusama
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