Dogecoin Killer Shiba Inu Listed by Tim Draper-Backed Crypto Exchange



Alex Dovbnya

One of Singapore’s most prominent crypto trading platforms has added support for Shiba Inu

Coinhako, a Singapore-based cryptocurrency exchange, has added support for Shiba Inu, the company announced Monday.

Its users are now able to trade the so-called “Dogecoin killer” against the Singapore dollar (SGD), the U.S. dollar (USD) and the Vietnamese dong (VND).

Coinhako also operates a wallet, which now allows safely storing Shiba Inu.

Last week, the company managed to obtain an in-principle approval letter from Singapore’s financial regulatory authority, in order to legally provide digital token services, becoming one of the first local cryptocurrency companies to achieve such a feat.

Co-founder Yusho Liu told Yahoo Finance Singapore that trading volume on the exchange has grown 1,000% since the start of the year.

The Singapore entrepreneur plans to increase the company’s headcount to 260 people next year.

Coinhako, which launched back in 2014, managed to put its name on the map early on by securing a six-figure investment from prominent venture capitalist Tim Draper.

Draper, who made a name for himself with prescient bets on Skype, Twitch and Hotmail, is also known as an early Bitcoin adopter who keeps predicting that the largest cryptocurrency may hit $250,000 by the end of 2022.

As reported by U.Today, Shiba Inu has also been listed by Gemini, Wealthsimple and other trading platforms this November.





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