Popular meme coin aka Dogecoin killer Shiba Inu has been listed on Taiwan’s leading crypto exchange BitoEX. This implies that the meme coin will be available for trading on the platform, with deposits and withdrawals now enabled. $SHIB went live on the prominent exchange on Thursday.
Since its emergence in 2014, BitoEX has become a prominent exchange on the Island and a pioneer of crypto exchange services. That same year, it collaborated with FamilyMart, an Asian store operator, to allow BTC payments at a time when crypto payments were still novel.
BitoEX held its I.C.O. in May 2018, realizing over $10M in minutes. In Taiwan, the crypto firm controls the majority of the exchange market.
SHIB Gains Traction On Leading Crypto Exchanges Across The Globe
The week was full of good news for the Shiba Inu community as the meme coin continued to gain traction. Earlier this week, one of the largest exchanges in Spain, Bit2Me added SHIB. The news came months after the prominent Spanish crypto firm supported Dogecoin.
SHIB, regarded by many as one of the best performing cryptocurrencies of 2021, has been strengthening its presence in several countries since the year began. Thanks to its low volatility rate, citizens of many countries use the meme coin as a store of value and transact.
Due to the massive adoption, many exchanges decided to list the coin. Aside from recent listings by BitoEX and Bit2Me, Bitstamp also attempted to integrate support for the meme coin. Unfortunately, the European crypto firm had to postpone it due to technical problems. Fortunately, it has been confirmed that it will integrate the currency in 2022.
CoinbasePro, the advanced crypto exchange of the regular Coinbase, listed SHIB in October but allowed customers to trade the meme coin in November. Austrian exchange Bitpanda, also allowed the trading of SHIB/EUR pair.
In late November, Kraken announced the listing of SHIB. It allowed users to trade the “joke coin” against the dollar and euro on November 30 for the pleasure of the Shiba Inu community. Across the other side, Unocoin, another prominent crypto exchange in India, allowed its users to trade the meme coin against USDT.
Taiwan Remains a Crypto Community Despite Strict AML Regulations
In the first half of the year, several crypto firms shut down due to the country’s rigid AML laws, which eventually came into force in July. In November, the F.S.C. was authorized to supervise the crypto market after Taiwanese cryptocurrency businesses were officially recognized as trading businesses.
But that’s just it. To date, there’s no concrete set of laws that properly regulates the trading of digital assets in the Asian nation to the disgust of small businesses running on virtual currencies. Despite these regulatory uncertainties, Taiwan remains one of the largest crypto communities with over two million people, about 10% of the population.