On Wednesday (April 26), payment processor NOWPayments delivered exciting news for fans of the meme-based crypto project Shiba Inu (SHIB).
The company announced in a blog post its plans to integrate the Shibarium blockchain, with the goal of becoming the first payment gateway to do so.
According to the blog post, upon Shibarium’s launch, NOWPayments intends to direct its tech team’s efforts toward adopting the L2 blockchain. This will enable the company to support tokens and projects built on Shibarium by providing an ecosystem of tools for all SHIB-related endeavors and, consequently, accept Shibarium L2 payments.
NOWPayments describes Shibarium as “The Blockchain of The People,” which promises faster transaction speeds and reduced fees, making it an ideal choice for businesses to integrate. It will also serve as a platform for developers to create decentralized applications (DApps), such as Shib – The Metaverse (Shib.io), Shiba Eternity, and more.
NOWPayments says it hopes to be useful for Shib the Metaverse, Shiba Eternity, and all projects built on the Shibarium blockchain. It mentions security, transparency, efficiency, cost-effectiveness, and true decentralization as key benefits of Shibarium. Shibarium’s security, it states, relies on a proof-of-stake algorithm that requires users to stake BONE tokens, which can be accepted using NOWPayments.
The blog post also shares that NOWPayments has submitted its application to the official Shibarium website and received a welcome email from Shytoshi Kusama. The company’s next steps involve providing more information about its solutions and awaiting further instructions from the Shibarium team.
NOWPayments also mentions that it has been a long-term supporter of SHIB, first adding support for the token in June 2021 and announcing a partnership on October 7, 2021. The company apparently integrated support for LEASH and BONE later in 2021 and 2022, respectively. In March 2022, it added an optional burn feature for merchant accounts to calculate SHIB burn.
In addition to these integrations, NOWPayments points out that it has been creating content around SHIB’s real-life uses and benefits, raising awareness and conducting educational campaigns. The company plans to continue developing new tools and features for Shibarium projects and the Shiba ecosystem as a whole, with the current focus being on the best ways to integrate Shibarium.
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