Shiba Inu Debuts on OnePay
Shiba Inu has recently made its debut on OnePay, a fintech platform in the United States largely owned by Walmart. This update was revealed through a tweet by Shibizens, an account dedicated to Shiba Inu news, on March 20.
Enhancements to Cryptocurrency Services
OnePay is enhancing its cryptocurrency services by introducing 10 additional digital assets for its user base, allowing them to buy, sell, and hold these cryptocurrencies directly within the app. Among these new listings is the popular Shiba Inu token (SHIB). Currently, the platform supports a total of 12 assets, which includes major players like Bitcoin (BTC) and Ethereum (ETH), both of which were available from the launch.
OnePay’s Reputation and Services
OnePay has gained a notable reputation, operating with a valuation of $4 billion and boasting over 3 million active users on a monthly basis. The app offers a range of financial services, such as:
- Banking
- Savings accounts
- Credit cards
- Buy now pay later options
- Investment opportunities
Users can start dealing with cryptocurrencies at as little as $1, and features such as tracking, alerts, and automatic purchases are available.
Integration with Walmart
The integration of Shiba Inu into the OnePay platform also means customers will be able to use the digital asset for purchases at Walmart retail locations and online. Additionally, the OnePay Later function allows for smaller, fixed monthly payments, thus broadening accessibility for consumers.
Regulatory Clarity in Cryptocurrency
In a related development for the cryptocurrency sector, regulatory clarity was provided when the U.S. Securities and Exchange Commission (SEC) released guidance on cryptocurrency classifications, which helps delineate how assets like Shiba Inu fit into the legal landscape. Most established cryptocurrencies are now classified as non-securities, although this classification still comes with new regulations.
Market Performance Challenges
Despite this promising news, Shiba Inu’s market performance has seen a downturn recently. As of the latest updates, the price of SHIB had fallen by 3.63% in a 24-hour window to $0.00000577, reflecting a 1.52% decrease over the week after facing a sell-off from its March 16 peak price of $0.00000644. Following attempts to recover, Shiba Inu’s value has continued to decline, indicating a continued downward trend with trading volumes dropping by 26.25% to $104.52 million on Sunday morning.
Conclusion
Overall, while the listing on OnePay may open new avenues for Shiba Inu, the market’s current direction presents challenges for the asset as it navigates through heightened regulatory scrutiny and a fluctuating trading environment.
