Crypto exchange Binance has added SHIB, IOTA and other cryptocurrencies as collateral assets on its lending platform. On Friday, August 4th, Binance announced that it approved SHIB, Shiba Inu’s native token, as a collateral asset.
In addition, the exchange included 22 new cryptocurrencies as loanable assets. These include COMP, IOTA, RLC, HOT, ENJ, THETA, IOST, AUCTION, PYR, ILV, KNC, YGG, GAS, CELO, and IRIS. For VIP loans, Binance added NKN, FARM, DIA, YGG, OGN, and ACA.
Binance’s Flexible Loan is an isolated, over-collateralised, and open-term loan service. It allows users to complete loan orders while collateralising cryptocurrencies in existing Simple Earn Flexible Products subscriptions. The VIP Loan is designed as a large personal and institutional over-collateralised loan featuring competitive rates, terms, and services.
The exchange is also considering listing the BONE token on its platform. BONE is the governance token of ShibaSwap, Shiba Inu’s decentralised exchange. This token allows the Shiba Inu community to vote on upcoming proposals, submit proposals and access future NFTs.
At the time of writing, the price of SHIB stands at $0.00000861 and is up by more than 4% in the last 24 hours. The Shibarium mainnet launch could happen this month, although there is no specific launch date.