SHIB's Adoption on the Rise

The US-based cryptocurrency exchange Kraken officially listed Shiba Inu (SHIB) on its platform in November 2021.

Major cryptocurrency exchange Kraken has expanded its services for Shiba Inu (SHIB), adding it as a new collateral asset for futures trading on August 29.

“You can now use SHIB to get exposure to over 200 perpetual futures. Simply transfer SHIB from your Kraken spot wallet to your Futures wallet to get started,” the exchange announced on Twitter.

One of the key developers and leaders of the Shiba Inu project, using the nickname Shytoshi Kusama, retweeted Kraken’s announcement, sharing a simple happy emoji symbol.

SpecialK – another pseudonymous member of the SHIB community – was more eloquent, saying:

“This is a massive milestone for the Shibtoken community! Last Bull Run, this very catalyst ignited the momentum for us, and now, with Kraken Pro – known for its strict standards and fully decentralized ethos like Bitcoin – we’re on the brink of something big again. This is huge!”

Other Well-Known Companies Hopping on the Bandwagon

Other well-known companies that have recently enabled trading services with the meme coin include Robinhood and Coinbase.

The former made SHIB available to New York State residents, while the latter launched 1000SHIB-PERP perpetual futures contracts.

This type of derivative product allows traders to speculate on the future price movements of the underlying assets without holding them. It offers high leverage, has no expiration date, and requires people to have a certain margin level to keep their positions open.

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