Community favorites Shiba Inu (SHIB) and APE are among the seven new coins that Coinbase Commerce added to its payment options. Coinbase Commerce is a platform that allows businesses to accept bitcoin and crypto payments for products and services.
In response to consumer complaints about hefty fees, the business explained that it was determined in the most recent update to make cryptocurrency payments rapid and free if the buyer buys products and services from those merchants that are affiliated with Coinbase-Managed.
According to the firm, tokens received as payment will automatically convert into fiat so that merchants receive the precise amount they specified owing to the extreme volatility of the cryptocurrency market.
Concretizing the statement at the same time, the platform noted that auto conversion of cryptocurrency to fiat is only accessible for Coinbase-Managed businesses and operates within predetermined limits.
- $1M: BTC, ETH, USDC, DAI
- $500K: LTC, SHIB, USDT
- $250K: APE, BCH, DOGE
Shiba Inu is witnessing mass adoption
Retailers of high-end accessories as well as airlines and supermarket chains are among the businesses that are embracing SHIB as a form of payment. These kinds of announcements must be commonplace by now among the Shib army, as the coin’s supporters are proudly known.
Even in the midst of the current financial downturn, Shiba Inu has seen a lot of adoption instances this year. It has repeatedly demonstrated that it is one of the most well-liked crypto ventures.
Shiba Inu is also a preferred breed among Ethereum (ETH) whales. It is the coin that the top 100 ETH whales own the most of, according to Whalestats.
On the other hand, Crypto.com tweeted that their rewards program, Crypto Earn, will no longer support 15 coins. The 15 tokens include Dogecoin (DOGE) and Shiba Inu.
Shibarium, the layer-2 protocol developed by SHIB, is also virtually ready for public release. Shibarium will be prepared for the public testnet by Q3 of this year, according to a blog post by Unification, the development team driving the program.