Leading Japanese crypto exchange Coincheck has announced support for Shiba Inu (SHIB).
According to an announcement today, Coincheck has added SHIB to its list of supported crypto assets. With Coincheck adding support for SHIB, users can buy, sell, send, and receive the canine-themed token.
Interestingly, the Japanese exchange plans to expand its support for SHIB. Per the announcement, SHIB will be added as a payment currency on Coincheck’s NFT marketplace.
Users can pay for various digital collectibles on the Coincheck NFT marketplace using SHIB. Before trading SHIB on Coincheck, users are advised to update their trading app to get the accurate price of the asset.
“If the Coincheck app is not the latest version, the price of Shiba Inu may not be displayed accurately. Customers using the Coincheck app are required to update to the latest version before making a transaction,” the announcement read.
Shiba Inu Lead Reacts
The addition of SHIB to Coincheck’s list of supported assets stirred a reaction from Shytoshi Kusama, the lead developer of Shiba Inu.
Reacting, Kusama took to X (formerly Twitter) to say “hello” to Coincheck in Japanese while calling the community’s attention to the development.
こんにちは、コインチェックです。 ? https://t.co/3NcTnqD1MR
— Shytoshi Kusama™ (@ShytoshiKusama) December 14, 2023
Launched in 2012, Coincheck is one of the leading exchanges in Japan and Asia in terms of liquidity and trading volume. Unlike most crypto exchanges, Coincheck is regulated by Japan’s Financial Service Agency (FSA).
Besides its OTC trading platform, Coincheck also offers other services like lending, staking, and a survey service that allows users to earn crypto when they participate in surveys.
With the addition of Shiba Inu, Coincheck now supports 30 crypto assets, including BTC, ETH, XRP, MATIC, SAND, and LINK.
Despite supporting 30 cryptocurrencies, CoinMarketCap (CMC) only tracks the 24-hour trading volume of Coincheck’s BTC/JPY pair. According to CMC, the BTC/JPY pair has a 24-hour volume of $84.7 million.
Japanese Exchanges Unending Support for SHIB
Meanwhile, Shiba Inu has continued to receive enormous support from Japanese crypto exchanges.
Some of the Japanese-based exchanges that have added support for SHIB include SBI VC Trade, OKCoin Japan, BitTrade, BitPoint, and Binance Japan.
The development suggests that Japanese crypto traders have a growing appetite for SHIB. As a result, exchanges are doing everything possible to meet these surging demands by supporting the canine-themed token.