Shiba Inu ($SHIB) And Terra ($LUNA) Listed On Trading And Payments App With 4.5 Million Users

Republished By Plato

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Leading digital payments platform Wirex, which has over 4.5 million users and allows them to spend dozens of currencies at more than 80 million locations worldwide, has added support for the meme-inspired cryptocurrency Shiba Inu ($SHIB) along with Terra’s $LUNA other tokens.

According to an announcement the firm made, these two cryptocurrencies were listed at the same time as Cosmo’s $ATOM, Enjin’s $ENJ, Bitcoin Cash ($BCH), and the Orchid Protocol ($OXT). Wirex’s 4.5 million users can now buy, sell, hodl, and use these assets at over 80 million locations worldwide.

Wirex touts it created the world’s first cryptocurrency-enabled payments card in 2015. Earlier this year it expanded to the United States and added numerous other cryptocurrencies including Polygon ($MATIC), Binance’s $BNB, Avalanche ($AVAX), and Fantom ($FTM).

The firm has its own native utility token, $WXT, which allows holders to receive cashback on their Wirex purchases. In 2018, it was awarded an e-money license by the K’s Financial Conduct Authority (FCA).

Wirex listing Shiba Inu and Terra’s LUNA is relevant as both cryptocurrencies have been seeing their adoption grow. 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 partnerships 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.

Terra has meanwhile become the second-largest decentralized finance (DeFi) network in the space with $22.5 billion in total value locked. The network also has $30 billion worth of LUNA being staked.

LUNA’s price surged after the protocol created Bitcoin-denominated reserves as an additional layer of security for its decentralized stablecoin UST. The Luna Guard Foundation (LFG) has also recently injected $450 million into one of Terra’s DeFi protocols, Anchor, to subsidize its roughly 20% yields.

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The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT

Featured image via Pixabay

Time Stamp: March 7, 2022