As the meme coin is listed on Coins.ph, a well-known cryptocurrency exchange in the Philippines, Shiba Inu adoption is increasing. More than 18 million people have registered on Coins.ph, which is authorized by the Bangko Sentral ng Pilipinas (BSP). One indicates that the vast majority of users may access the dog-themed cryptocurrency anywhere in the world, not just in this region of Asia.
Shiba Inus, dubbed the “Dogecoin-killer,” will be included in the list of 20 cryptocurrencies already available.
One of the country’s first cryptocurrency exchanges is called Coins.ph. The exchange, which was founded in 2014, changed its emphasis from cryptocurrency to traditional financial services.
Shiba Inu is included on the “Most Established Crypto Brand” in the Philippines
As the first blockchain company in Asia to get a license as an Electronic Money Issuer and Virtual Currency Exchange, the BSP controls Coins.ph (EMIVC).
Coins.ph is “the most established crypto brand in the Philippines and has garnered the trust of over 18 million users,” according to its mission statement.
Users of the user-friendly smartphone app have access to a wide range of financial services as well as the ability to buy and sell a variety of cryptocurrencies on the in-house market.
The 7 Million Active Monthly Users Of SHIB And Coins.ph
The first cryptocurrency-based business in Asia to have authorizations from a central bank as an electronic money issuer and a virtual currency issuer is Coins.ph. On its website, it lists 300 “happy” staff and 7 million active monthly customers.
Shiba Inu analysts evaluated the price movement and predicted a rise to the positive target price of $0.0000140. With a $0.0000140 price goal in mind, the meme coin may recoup its losses and start a rally.
Shiba Inu is now selling at $0.00001180, according to Coingecko statistics for Sunday, a gain of 7.1 percent over the previous seven days.
Wei Zhou, the former chief financial officer of Binance, bought Coins.ph in early April after leaving the crypto exchange giant in May of last year for personal reasons.
Three years after the startup was bought by the Indonesian technology business for $95 million, the deal was finalized. The meme coin was supposed to debut on July 13 on the cryptocurrency exchange with Philippine headquarters, however there were some issues with the launch due to technical difficulties.
‘Dogecoin-Killer’ Shiba Inu was recently listed on Robinhood and Bitstamp
A number of significant exchanges, including the largest European cryptocurrency market, Bitstamp, and the renowned trading exchange, Robinhood, recently listed Shiba Inu.
SHIB, which has lost more than 85% of its value since hitting a new high in late October, continues to hold the No. 15 position with the greatest market capitalization. The token’s value grew by more than 5% over the previous day, hitting $7 billion.
A research from 2021 claims that the Philippines is one of the world’s top countries for cryptocurrency adoption. According to a survey by the Singapore-based blockchain and cryptocurrency data aggregator Triple A, there are already 4,3 million bitcoin owners in the nation, or 4% of the whole population.