Binance Welcomes Shiba Inu as an Approved Collateral Asset

Binance, a prominent cryptocurrency exchange, has expanded its services by adding 22 new loanable and collateral assets to its Flexible Loan and VIP Loan offerings. In its official announcement on August 4, Binance revealed the inclusion of several new collateral assets, notably Shiba Inu, Compound, and Theta. This decision has sparked speculation regarding the potential listing of Bone ShibaSwap (BONE) tokens on Binance, coinciding with the upcoming launch of the layer-2 blockchain, Shibarium, expected in August.

The Flexible Loan service at Binance has been enhanced with eight new loanable assets, while the VIP Loan service now includes six new loanable assets, according to the announcement.

Furthermore, Binance introduced Nem (XEM) as a newly available borrowable asset, with the XEM/USDT pair now supported on the cross-margin trading platform.

Following the launch of the Shibarium testnet, PuppyNet, the BONE token has been listed on various cryptocurrency exchanges, including OKX, Huobi, and Crypto.com.

Binance has expressed interest in listing the BONE token, subject to the forthcoming Shibarium mainnet launch. The listing prerequisites for new tokens are expected to be met once the mainnet is operational. Shytoshi Kusama, the lead developer of the Shibarium project, previously mentioned the possibility of the launch taking place in August.

With these new additions to its loan and collateral assets, Binance continues to expand its offerings, catering to the evolving demands of its user base and accommodating emerging cryptocurrencies with potential for significant growth.

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