Major Japanese Exchange Adds Support for Shiba Inu (SHIB)

Coincheck, a leading Japanese crypto exchange based in Tokyo, has announced the addition of Shiba Inu (SHIB) to its trading platform starting Dec. 14.

This move is expected to dramatically increase access and liquidity for the popular meme-based digital asset.

A major industry player

Coincheck’s integration of SHIB will include various services such as sending, receiving, purchasing, and selling the asset through its web and mobile app platforms.

However, it is important for users to update to the latest version of the Coincheck app for accurate pricing.

Furthermore, SHIB will be added as a payment currency in the Coincheck NFT marketplace from Dec. 15.

Coincheck, which was established back in 2012 and led by CEO Satoshi Hasuo, has been a dominant player in Japan’s cryptocurrency market.

The company’s trading service has been the top downloaded crypto trading app in Japan for four consecutive years, from 2019 to 2022.

The exchange is also known for suffering one of the most significant cryptocurrency hacks. In early 2018, roughly $530 million worth of NEM tokens was stolen from the popular trading platform.

Big in Japan

The inclusion of SHIB on Coincheck follows similar moves by other Japanese exchanges. Back in October 2023, BitTrade announced the addition of SHIB to its platform.

Earlier, in June, SBI VC Trade began trading SHIB, alongside DAI and Cosmos (ATOM). In early 2023, OKCoin Japan also started handling SHIB, further expanding the availability of this popular meme coin for Japanese traders.

This collective adoption of SHIB by multiple Japanese exchanges shows the growing interest in the second-biggest meme coin.