Shiba Inu: NOWPayments Teams with Shibarium to Build on its Blockchain

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Shiba Inu: NOWPayments Teams with Shibarium to Build on its Blockchain

Last updated on May 18th, 2024 at 12:01 pm

Shibarium and NOWPayments – NOWPayments, a Netherlands crypto payment gateway has teamed with Shiba Inu to build on its ecosystem. This move will help to increase crypto payment adoption and also will help to give strength to the Shiba Inu ecosystem.

NOWPayments revealed its eagerness to partner with Shiba Inu via its official Twitter page on April 12. Shibarium is a layer 2 blockchain technology committed to the widespread adoption of SHIB.

NOWPayments revealed that they applied through the Shibarium intake form and got a positive response from Shytoshi Kusama. With this collaboration, NOWPayments will build on Shibarium which will in turn facilitate crypto payments.

Since 2021, the leading crypto payment platform has been showing support for the Shiba Inu ecosystem. In October 2021, they added support for SHIB to their platform. Also, NOWPayments was one of the first crypto payment gateways to add a BURN feature for SHIB on its platform. With this feature, merchants were allowed to contribute percentages of their investment profit towards burning SHIB.

The collaboration will help NOWPayments to provide a smooth payment experience to SHIB users and other merchants on their platform. Furthermore, the partnership will also help Shibarium and NOWPayments expand, grow their user base, and also increase adoption.


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Payments with SHIB on NOWPayments

One of the most notable and important events for the Shiba Inu token was when the support was added to the NOWPayments platform. It has helped with the expansion and acceptance of the utility token since then. Also, thanks to the likes of BitPay, and Binance Pay, SHIB has expanded more as a means of payment. NOWPayments, last year also partnered with Switchere – an app that allows you to buy, sell or exchange cryptocurrencies without ID verification, to allow customers to pay merchants in SHIB tokens.

NOWPayments further pointed out the different Pros of accepting SHIB as a payment method. They also encouraged NFT marketplaces to adopt the utility token as a payment method as well.

In other news, Puppynet – Shibaraium’s testnet, has been experiencing exponential growth. Right now, it boasts over 300,000 wallet addresses. Within 3 weeks of its launch, it has processed more than 2 million transactions.

Platforms that Accept SHIB as a Payment Method

A popular blockchain-based B2B selling platform, Xeni recently announced joining forces with Bitpay to accept SHIB as a payment method on the platform.

Also, renowned Illinois-based cryptocurrency exchange, has announced that it will allow customers to make payments with SHIB through their new Gate Visa debit card in Europe.

Similarly, Binance introduced a crypto-based prepaid card in Columbia. This would allow residents of the country to pay for goods and services using SHIB. What’s more, Binance also collaborated with Georgian-based crypto payment platform, to enable users to make payments with SHIB at over 600 vendors in the region.

SHIB Price Today

According to live data from CoinMarketCap, Shiba Inu (SHIB) is selling at $0.00001117 with a 24-hour trading volume of $178,304,962 USD. Within the last 24 hours, Shiba Inu is up 3.18%. It is ranked at #14 on CoinMarketCap with a live market cap of $6,588,231,484 USD.

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Victor Nnamdi Igbor "Swaezy" is a crypto enthusiast and writer with over 8 experience in blogging. He is an easy person and when not working, loves to have a good time.