SBI Group, a prominent financial services giant in Japan, has announced plans to start trading Shiba Inu (SHIB) through its crypto asset platform SBI VC Trade.
Japan’s financial giant, SBI Group, has made an exciting announcement today regarding its foray into crypto trading. SBI VC Trade, the subsidiary responsible for the group’s crypto asset exchange business, revealed that it will now offer trading services for Shiba Inu (SHIB) from June 28.
— SBI VC Trade (SBI VCトレード） (@sbivc_official) June 28, 2023
With a primary focus on delivering comprehensive services that enhance customer satisfaction, SBI VC Trade aims to address the increasing demand for crypto. Alongside Shiba Inu, the company has also included Dai (DAI) and Cosmos (ATOM), bringing the total number of supported digital assets to 20.
The firm intends to provide various services, including sales, accumulation offerings, and lending services. Furthermore, SBI VC Trade will introduce specialized trading options for storing digital assets that surpass a specific threshold set by the company.
SBI VC Trade recognized Shiba Inu (SHIB) as an Ethereum-based digital currency inspired by Dogecoin. According to the press release, SHIB has gained a substantial following and has become one of the prominent crypto assets globally.
SBI VC Trade has outlined specific trading details for Shiba Inu. The trading unit for SHIB is established at 1,000 tokens, with the minimum order quantity set to the same value. Traders can place orders for SHIB tokens up to a maximum quantity of 5,000,000,000, and the tick size is 0.000001.
Shiba Inu Growing Prominence in Japan
By incorporating Shiba Inu (SHIB) into its trading platform, SBI Group demonstrates its acknowledgment of the increasing prominence and potential of SHIB within the market.
By including assets like SHIB, SBI VC Trade aims to meet the changing requirements of its customers. Whether individuals want to buy, accumulate, or lend Shiba Inu, SBI VC Trade aims to provide a seamless and efficient trading experience.
The development comes nearly a month after reports revealed that Shytoshi Kusama, the community-appointed Shiba Inu lead, changed his location to Niseko, Japan. This move triggered speculations among proponents.
The SBI VC Trade support further cement Shiba Inu’s position as a significant asset in Japan. Notably, several Japanese-based exchanges have also listed SHIB, including OKCoin Japan and BitFlyer. BitPoint was the first major Japanese exchange to list the asset.