US digital asset exchange Kraken has announced that it will start supporting the viral Memecoin Shiba Inu (SHIB) from November 30.
The minimum deposit is 373,000 chips ($ 16) and the minimum trade size is 50,000 chips ($ 2). SHIB will initially be negotiated with USD and EUR pairs, but Kraken Futures contracts and SHIB margin trading will not be available at launch.
Jonathon Miller, CEO of Kraken Australia, told Cointelegraph that the cryptocurrency market supports projects with clear trade demand, including SHIB.
At the time of publication, SHIB is the second largest cryptocurrency with a market value of $ 25.81 billion. According to the listing news, SHIB’s share is up more than 20% in the past 24 hours.
Miller added: “I don’t want to describe Kraken as a place where every coin is listed, and that’s not what we were known for.”
Kraken is one of the least conservative stock exchanges with 93 assets listed. Meanwhile, Coinbase supports 51 assets, while Robinhood only supports seven.
Other exchanges have been reluctant to host Dogecoin-inspired altcoins due to legal issues despite growing user pressure. SHIB shares crossed a million owners on Friday, despite trading below a record high of 50%.
On November 10, Kristen Brown, Chief Operating Officer of Robinhood, stated that “the platform’s strategy is different from the strategy of many other players who are now trying to list as many assets as possible.” A Change.org petition asking to include Robinhood as a Shiba Inu has garnered over half a million signatures.
Miller added: “There are some services we offer that don’t quite fit the regulatory form. So it’s a gray area that the entire industry is in, and it’s not ours. ”
“This is the nature of the fact that we are dealing with innovative technologies that do not necessarily meet the standards that current regulators believe are possible.”
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Dan Gallagher, Chief Legal Officer for Robinhood, described the current regulatory climate for digital asset swaps at Georgetown University’s Financial Markets Quality Conference on November 19: “This is a very tense situation requiring regulatory clarity that we have not seen. for.”