invezz.com
Flexa Network has announced that it will be supporting Shiba Inu (SHIB/USD) as a payments method. The payments network stated that the SHIB token will now be available to users on the Flexa SPEDN application.
Flexa Network partners with Gemini in 2019. Gemini is one of the largest exchange platforms in the US, and it holds the highest score when it comes to compliance.
Flexa Network lists SHIB
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
“Now you can use @Shibtoken for fast and fraud-proof payments anywhere Flexa is accepted – including more than 40,000 stores across the US,” the announcement read in part.
Let’s get a head start on the weekend… $SHIB is here! Now you can use @Shibtoken for fast and fraud-proof payments anywhere Flexa is accepted—including more than 40,000 stores across the US. #25DaysofFlexa🎁 pic.twitter.com/X7L0lc8fa6
— Flexa (@FlexaHQ) December 10, 2021
The SHIB token will now be available for use across a wide range of merchants on the network, including Lowe’s and GameStop and Petco.
The addition of SHIB to Flexa is a major win for the meme token, given that this will boost its utility and aid in its popularity and value.
Moreover, the addition of SHIB to Flexa has allowed the meme token to make slight gains despite the recession happening across the market. Data from CoinGecko shows that SHIB has gained by around 0.7% during the past 24 hours. The token is trading at $0.00003458 at the time of writing, which is still 60% down from its all-time high.
Shiba Inu gaining adoption
The Shiba Inu token continues to make headlines across the crypto market despite falling from its record highs. The recent addition of SHIB on Flexa comes a few days after the token was listed on Kraken, one of the leading exchange platforms. Gemini also listed Shiba Inu last month.
Over the past few weeks, Shiba Inu has received endorsements from multiple organizations that believe the meme token should be adopted for payments. BitPay, a cryptocurrency payments platform, announced that it would add SHIB to its supported cryptocurrencies list.
The meme token also recently received endorsement from Travala, a travelling website in Australia with millions of users. SHIB was listed on the platform after winning a poll posted by the firm on Twitter. Travala supports more than 40 cryptocurrencies on the platform, and these can be used to pay for hotels and airline tickets globally.
Other institutions that have endorsed SHIB for payments include Newegg, AMC Entertainment and a luxurious car dealership in Las Vegas.
Shiba Inu is also making plans to venture into the metaverse. The Shiba Inu team announced that it will be the first crypto to have its own metaverse dubbed the Oshiverse. To make this possible, SHIB plans to undergo a token burning.