TL;DR

• Kraken added Shiba Inu as collateral for futures trading, enhancing its support for the popular meme coin.
• Robinhood and Coinbase have also enabled new trading services for SHIB earlier this year.

SHIB’s Adoption on the Rise

The US-based cryptocurrency exchange Kraken officially listed Shiba Inu (SHIB) on its platform in November 2021. Since then, it has increased its support for the self-proclaimed Dogecoin-killer, enabling various trading services with it.

Earlier this month, the company added SHIB/EUR to the list of offered margin pairs. The option allows users to employ loaned funds in leveraged trades. It could lead to higher returns but is linked to a bigger risk of liquidation.

Kraken did not stop there, adding Shiba Inu as a new collateral asset for futures trading on August 29. “You can now use SHIB to get exposure to over 200 perpetual futures. Simply transfer SHIB from your Kraken spot wallet to your Futures wallet to get started,” the exchange announced on X.

In crypto futures trading, a collateral asset is a token that market participants deposit t