- The partnership of SHIB and NOWpayments will expand the use of cryptocurrencies.
- SHIB is working with NOWPayments to create payment gateways and wallet services.
- Consumers expect the debut of SHIB and the increased adoption and costs of the project
Shibarium, a Layer 2 blockchain solution devoted to the growth and extension of well-known cryptocurrency Shiba Inu (SHIB), has announced a significant partnership with NOWPayments, a top cryptocurrency payment service provider. This decision will enhance the Shiba Inu ecosystem and hasten the acceptance of cryptocurrency payments.
Shibarium Tech of the Shiba Inu (SHIB) has announced a new relationship with NOWPayments. The collaboration intends to increase platform acceptance for Shibarium.
According to an official tweet, lead developer for Shiba Inu (SHIB), Shytoshi Kusama, has approved NOWPayments’ request for a cooperation. The payments platform added that by working together, they would expand the use of cryptocurrencies and develop the next layer-2 network.
NOWpayments And Shib
The Shiba Inu Community has been told by NOWPayments that more fascinating information about the collaboration will be disclosed shortly, and has been urged to keep an eye out for new developments.
SHIB support was implemented by NOWPayments on October 18, 2021. Since then, the top payment processor has consistently demonstrated its unwavering support for the Shiba Inu ecosystem. The first cryptocurrency payment gateway to offer an optional BURN function for SHIB on its platform was NOWPayments. This tool enables business owners to donate a portion of their earnings to SHIB burning, including Shiba Inu IRL partners Sorbillo, Welly, and John Richmond.
Additionally, NOWPayments and Switchere collaborated last year to let customers pay retailers in SHIB while retailers could exchange SHIB for fiat.
What will NOWPayments add to the Shibarium network?
Shibarium will take the place of SHIB as an ERC-20 token once it is released. The resource will function inside of its own blockchain. It’s conceivable that NOWPayments will create payment gateways and wallet services for the brand-new blockchain.
NOWPayments first added SHIB support in May 2022. Given how much its utility has grown since then, this was undoubtedly one of the Shiba Inu token’s most crucial moments. It seems more stupid to refer to SHIB as a meme cryptocurrency as its acceptance as a form of payment has increased thanks to services like BitPay or NOWPayments.
Shiba Inu (SHIB) is likewise putting effort into its metaverse project, SHIB-The Metaverse. As part of the cooperation between the two projects, NOWPayments might also construct a property on SHIB’s virtual world. Shibarium is yet to officially launch, though. The team hasn’t yet provided a deadline for the layer-2 network, despite previously stating that a partially finished metaverse might debut near the end of 2023.
It is not yet known what the Shiba Inu community will gain from the recently announced relationship with Shibarium. Keep an eye out for NOWPayments’ tweets with encouraging messages and updates.
Fans and consumers nevertheless anticipate that the debut will increase SHIB adoption and costs. Additionally, it is anticipated that SHIB burns will drastically rise once the mainnet becomes operational.