TL;DR
- CoinGate, a blockchain payment processor, has added Shiba Inu as a payment method, integrating it with Polygon and Binance Smart Chain.
- SHIB’s price experienced an uptick lately, while its market capitalization neared $14 billion.
Enabling SHIB Payments
CoinGate – a blockchain payment processor headquartered in Lithuania – became the latest entity to embrace the popular meme coin – Shiba Inu – as a payment method. To do so, it integrated SHIB with Polygon and Binance Smart Chain.
We love SHIB! ❤️
To prove that, 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!
Explore all options: https://t.co/bhrB9i7OrF pic.twitter.com/2dS2JVD3V8
— CoinGate (@CoinGatecom) May 10, 2024
The payment gateway enables businesses to buy, sell, manage, and accept cryptocurrencies. It acts as a bridge between crypto and traditional finance, facilitating transactions for goods and services.
Popular companies that collaborate with the payment processor in some way include Airbnb, Nike, Spotify, Walmart, IKEA, Uber, and many more.
Besides the thumbs up from CoinGate, SHIB made the headlines today (May 13) thanks to its substantial price increase. As CryptoPotato reported, it spiked by 7% on an hourly scale while its market capitalization neared the $14 billion mark.
Previous Support for SHIB
The self-proclaimed Dogecoin-killer saw the light of day in the summer of 2020, capturing the attention of numerous industry participants and exchanges in the following years.
Not long ago, the crypto lending platform Nexo enabled users to buy Shiba Inu, explaining that card transactions can be accepted “in seconds.” It also allowed swaps with rewards, borrowing against the token, and sending assets to a friend via a phone number or email.
Other leading crypto firms that have already embraced the meme coin include Binance, Kraken, Coinbase, Gemini, OKX, KuCoin, GroveX, and many more.
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