Binance U.S. To Launch Shiba Inu Trading Against Dollar

Binance.US to introduce SHIB/USD trading pair from February 24, 2023, and delist KSHIB.

Binance.US, the world’s leading exchange based on daily trading volume, has made a significant announcement for the Shiba Inu Community by introducing a new trading pair for the popular canine-themed cryptocurrency.

Binance.US recently announced that it would introduce a new trading pair for Shiba Inu (SHIB) against the US Dollar (USD) on February 24, 2023.

#BinanceUS will delist #KSHIB and list SHIB/USD.

KSHIB / $USD trading pairs will be delisted and all pending $KSHIB spot trade orders will be canceled on February 20, 2023 at 10 p.m. EST.https://t.co/AZwoBOgsqS will list and open trading for #SHIB/#USD https://t.co/hqHITPPAf5… https://t.co/7EDNV18mGg pic.twitter.com/7G0PkRHPva

— Binance.US ?? (@BinanceUS) February 14, 2023

Binance.US will delist the KSHIB/USD trading pair on February 20, 2023, while all pending KSHIB spot trade orders will be canceled.

Binance.US has also announced that all its users currently holding KSHIB will receive converted SHIB at a ratio of 1 KSHIB = 1,000 SHIB by February 24, 2023. During this transition window, the SHIB/USDT trading pair will remain available for trading.

This move by Binance.US marks a significant development for Shiba Inu and its growing community, as it will increase the availability and accessibility of the popular canine-themed cryptocurrency for users who want to trade it against the US dollar.

As reported earlier by The Crypto Basic, Binance officially included Shiba Inu in its Proof of Reserves (PoR) system. According to Binance’s Proof of Reserves page, the exchange holds a net balance of 84.4 trillion SHIB tokens worth $1.06 billion as of press time. In comparison, customers hold a net balance of 82.4 trillion SHIB tokens valued at $1.03 billion, indicating a reserve ratio of 102.4%.