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The team behind the Shiba Inu ecosystem is further expanding it through a new partnership with Mass Finance Inc. (Mass), a financial solution provider.
In exciting Shiba Inu news today, The Shiba Inu ecosystem X handle announced the partnership yesterday, emphasizing that the collaboration will elevate SHIB to the next level, especially in the financial sector.
New Partnershib: Shiba Inu x MASS 🔥@Mass_Build is poised to be the Financial Layer of the Shiba State with AI-driven legal and fiscal solutions, supported by Stripe and others.
Together, we're elevating Shib to the next level! 💪 pic.twitter.com/pNrce7x7uy
— Shib (@Shibtoken) October 14, 2024
According to the announcement, Mass will be the financial layer of the Shiba State, with plans to incorporate AI-driven fiscal and legal solutions to the ecosystem.
Shiba Inu Lead Reacts
It bears mentioning that the Shiba Inu ecosystem team first hinted about this partnership with Mass during a keynote speech at the recently concluded ETHToronto 2024 conference.
Shiba Inu’s lead developer, Shytoshi Kusama, confirmed this in an X post yesterday. He said the team first mentioned the partnership during its keynote speech at the ETHToronto 2024 conference.
The conference, which took place on August 13 – 14, saw the Shiba Inu ecosystem team unveil several upcoming initiatives, including a new partnership with a financial entity. Two months after disclosing the partnership, Shiba Inu has now officially unveiled Mass as this entity.
Mass Solutions
For context, Mass offers an all-in-one operating system (OS) that helps businesses streamline their growth processes and setup. At the moment, its financial service platform is in private beta.
In the meantime, the team behind Mass has made significant strides in the financial sector and has partnered with notable players. It partnered with multinational financial services company Stripe to provide account and money transmission services. Through this partnership, Mass’ funds will be held at Evolve Bank & Trust.
Furthermore, Mass Financial also holds a Visa license that allows it to offer its own Visa Prepaid cards. Commercial financing and business lender Celtic Bank is responsible for issuing the cards to Mass customers.
Potential Benefit for SHIB
Shiba Inu’s partnership with Mass Financial marks a significant step toward transitioning SHIB from a memecoin to a utility token. It will also enhance Shiba Inu’s popularity in the financial sector, potentially boosting SHIB’s value in the long term.
The development coincides with a significant surge in SHIB’s price. Yesterday, SHIB witnessed an intraday increase of 5.31%, elevating its price to a daily high of $0.00001893.
Although SHIB’s price has retraced to $0.00001819, the altcoin still boasts a 24-hour gain of 2.03% and a weekly surge of 5.19%.