Crypto.com expands its support for Shiba Inu by allowing its users to fund their Visa Cards with SHIB.
Crypto.com recently emailed customers to inform them about the development. The exchange also tweeted about the move, stating that users can now fund their Visa Cards with SHIB.
Besides Shiba Inu, Crypto.com also supports more than 100 cryptocurrencies for the service, including Bitcoin (BTC) and Ethereum (ETH).
100+ tokens now supported to make it easier to fund your https://t.co/vCNztATkNg @Visa Card 💳
Now including meme coins like $SHIB, $PEPE, $FLOKI, and $WIF!
Fund your Card now: https://t.co/AaE1nq6C8N pic.twitter.com/i8XK6Duulq
— Crypto.com (@cryptocom) June 19, 2024
According to the exchange, the offering is available across all jurisdictions where Crypto.com operates its card program, including Europe and the United Kingdom. Funding your Crypto.com Visa Card is straightforward.
It requires users to visit the ‘Card’ page on their mobile app, click ‘Top Up,’ select SHIB or any of the supported crypto as a payment method, input the top-up ‘Amount’, and ‘Confirm’ the transaction.
Significance of SHIB Integration
Shiba Inu’s acceptance as a payment method for Crypto.com’s Visa Card funding marked a significant milestone for the asset and its broader community. It allows Crypto.com’s customers to leverage SHIB in everyday transactions, thus potentially bolstering its utility and value.
This development also illuminates Shiba Inu’s continuous integration into the mainstream financial ecosystem, which is helping SHIB shed its memecoin status.
CryptoCom’s Support for SHIB
Since Crypto.com officially listed SHIB in March 2022, the exchange has continued to expand its support for the token. This includes adding new trading pairs and launching exciting reward programs featuring the token.
Earlier this year, the exchange took its support for SHIB to new heights by promoting the dog-themed token on Google Play Store and App Store. The exchange also serves as an avenue for large SHIB purchases.
In April, a user withdrew 692.4 billion SHIB from Crypto.com. This type of transaction suggests that the tokens were newly acquired at the time and moved out of the exchange for long-term holding.
Crypto.com users have also helped reduce Shiba Inu’s circulating supply by transferring SHIB from the exchange to the official dead wallet. Last year, a Crypto.com user sent nearly 35 million SHIB to the dead wallet, permanently removing the tokens from circulation.
