The meme-inspired cryptocurrency Shiba Inu ($SHB) has been added to Crypto.com’s decentralized finance (DeFi) wallet, in a move that will effectively allow $SHIB token holders to earn interest on their holdings.
According to a tweet Crypto.com shared, SHIB was added along with six other cryptocurrencies to the company’s DeFi wallet, including Aave ($AAVE), DAI ($DAI), Chainlink ($LINK), and Terra ($LUNA).
Crypto.com’s DeFi wallet, it’s worth noting, is a non-custodial wallet giving users access to decentralized finance services through it. It supports hundreds of cryptocurrencies including leading ones like Bitcoin ($BTC) and Ethereum ($ETH).
According to Crypto.com, users can earn interest on over 35 tokens through the application using DeFi services like Compound, Aave, and Yearn Earn. As CryptoGlobe reported, SHIB is supported on Ethereum-based non-custodial lending protocol Euler finance.
Crypto.com’s move comes amid growing SHIB adoption. Leading U.S. movie theater chain AMC has recently added payments in SHIB and DOGE to its website and mobile application through crypto payments processor BitPay, Earlier this month SHIB was added to leading digital payments platform Wirex, which has over 4.5 million users.
The meme-inspired cryptocurrency has for some time now been listed on leading centralized cryptocurrency trading platforms including Coinbase and Binance. The latter has recently launched a campaign giving away free SHIB to new users.
The SHIB community has recently seen the cryptoasset partner with Italian high-end designer wear John Richmond in a bit to launch a non-fungible token (NFT) based fashion collection later this year.
Through its partnership with John Richmond, the team behind the meme-inspired cryptocurrency has secured advertisements with Milan’s city council, allowing it to place logos on the ‘1825’ numbered tram in the city, exposing it to Milan’s residents.
The partnership comes after the team behind the cryptocurrency announced the upcoming launch of a token burning portal that is set to help the cryptocurrency’s community burn tokens in an effort to reduce its circulating supply.
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