Shiba Inu, billed by some to be the DogeCoin Killer, has been in the news frequently through July. Perhaps that is part of the reason why the popular meme coin was recently chosen and listed as one of the newest cryptocurrencies available for trade and purchase on the popular Philippines-based coins.ph cryptocurrency exchange. $SHIB token purchases were made available to the 16 million plus users the exchange reports to service, in this recent move.
The news of Shiba Inu being listed on coins.ph could certainly suggest positive elements are in the foreseeable future outlook for the battle-proven Shiba Inu token and decentralized project. The SHIB token value has suffered, like many other cryptocurrencies, throughout a market considered to be even more volatile than usual, due to largely unavoidable economic factors like inflation and global market pullbacks, which have plagued many entities in 2022 so far.
Why Listing On Coins.ph Is Positive
The Philippines founded and based company has been in operation since its launch in 2014. Coins.ph reports having over 16 million active users which not only utilize the centralized platform for the buying and selling of cryptocurrency assets, but also in order to access financial services extended to the user base to engage in actively.
Coins.ph differs from other centralized exchanges, as they focus and strive to offer its active users with the ability to conduct financial operations such as banking and digital payment services, local and international remittances, bill payments, online shopping and financial functions surrounding gaming. This allows users on the coins.ph crypto exchange platform to transfer value into one of many different avenues to facilitate payments and other use-based cryptocurrency operations.
Other Points About Coins.ph And New Listing
Coins.ph has noteworthy partnerships with well-known entities in the digital payments arena. Ripple Labs and Stellar Lumens are both aligned with coins.ph, specifically in the interest of digital remittances. Strategic partnership and alignment between coins.ph and Stellar has been official since 2016. According to coins.ph, XRP, the Ripple Labs network coin, is used to send and receive global payments on the centralized platform, making integration within the larger global banking system even more possible due to the focus Ripple devotes to the said integrated functionality. Also in the vein of compliance, coins.ph is promoted as being the first ever crypto-based company in Asia to hold both Virtual Currency and Electronic Money Issuer licenses from any central bank.
The coins.ph standing as an entity which is fully regulated by the Bangko Sentral ng Pilipinas (BSP), strengthens the case of the exchange as a viable financial platform. It also makes accomplishing the status of listing on the network to be one which expresses a degree of legitimacy for a project, if for no other reason, simply because of the regulatory standing which coins.ph must adhere to themselves.
Watching Shiba Inu For Future Movement
With the recent announcements of the release of its digital payments card and an increased burn rate of Shiba Inu tokens, the community is hopeful as they watch, along with the rest of the crypto market. This hope comes even as some experts confirm a current bear market, during which $SHIB value dropped around 90%.
$SHIB token purchases increased over the last full week of this July, which, for all crypto enthusiasts and ShibArmy community members, is considered to be a positive sign for the future of the token at some point down the line. And in crypto, experienced investors and traders understand that timing is very important in the digital assets market.