Crypto exchange Gemini has announced support for the Dogecoin Killer token Shiba Inu. Shiba Inu’s listing on Gemini combines a range of new DeFi, metaverse, infrastructure, and other data management tokens.
Gemini was launched in 2015 by two brothers, Cameron and Tyler Winklevoss. The New York-headquartered trading platform is known for its emphasis on regulatory compliance. It started supporting Shiba Inu’s rival Dogecoin back in May.
The addition of meme token Shiba Inu and the other coins to Gemini totals the token it offers for trading and custody to be more than 60 and an additional 16 for custody.
Regulatory Compliant Gemini Sees SHIB as Safe to List
Considering Gemini’s reputation of regulatory compliance, its listing of meme token Shiba Inu could help boost the performance of the coin significantly.
The Shiba Inu community has for some time now been urging the commission-free trading platform Robinhood to list their favorite coin. The petition on Change.org for Robinhood to list Shiba Inu has garnered over 531K signatures.
In an interview with CNBC, Robinhood’s CEO, Vlad Tenev, said the exchange is mindful of the regulatory concerns on crypto, and therefore critically reviews coins before addition.
Robinhood’s COO Christine Brown also stated that the short-term gain of adding SHIB may not be worth the long-term trade-off for users. Brown added that they are approaching the situation with a “safety-first” mindset.
Crypto exchange Kraken had promised to begin listing of SHIB in October. Kraken, however, did not fulfil its promise, making it another exchange together with Robinhood that is dilly-dallying of the SHIB listing.
Gemini Opens Way to Robinhood Support?
The latest development now is that the king of regulatory compliance, Gemini, has listed meme token Shiba Inu. The move highly points to the conclusion that SHIB could, after all, be safe for listing. The question remains if Robinhood will be following in line with Shiba Inu’s listing.
Another major crypto exchange Coinbase added Dogecoin killer Shiba Inu for its New York residents at the beginning of this month. The exchange has offered SHIB on the Coinbase Pro platform before rolling it out to New York residents.
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