Regulated crypto platform Uphold to list Shiba Inu (SHIB) by mid-Jan

Regulated crypto platform Uphold to list SHIB and 4 other tokens by mid-Jan
9 months ago
2 mins read

Uphold, a cryptocurrency exchange and platform that also facilitates commodities trading has announced plans to list a few new cryptocurrencies in January. 

In a statement shared with Finbold, the platform stated that it would list meme cryptocurrency Shiba Inu (SHIB) by January 15. The listing follows the recent rise in SHIB’s popularity fuelled by social media activity. 

SHIB’s popularity is evident by the number of holders the platform added in December despite falling victim to the general cryptocurrency market correction. According to our previous report, between December 1 and December 30, SHIB added 81,305 holders from 1,021,997 to 1,103,302. However, during the period, the asset’s market capitalization dropped 24.96% from $24.79 billion to $18.60 billion. 

On January 8, the platform is also expected to list Spell (SPELL) token, a reward asset associated with lending platform abracadabra money. Furthermore, the CVX token, which is behind the yield-boosting application Convex Finance, will be listed on the exchange. 

All the tokens will be classified under tier three, which allows users to buy, hold, sell, deposit, withdraw and send the assets. 

Recently, Uphold has also listed OriginTrail (Trac), Mina (MINA), and Arweave (AR) for trading on the platform.

Uphold listing more assets 

In recent months, Uphold has been on a spree of adding various tokens. As of September 30, 2021, the platform listed Casper (CSPR), Terra (LUNA), & THORChain (RUNE) tokens which were designated as Tier 4 assets. Tier 4 digital assets allow users to buy, hold, sell and send.

With the continued listing of various assets, Uphold has taken the initiative to enable users to spend their crypto holdings conveniently by introducing a debit card linked to preferred digital assets and other equity investments.

The debit card introduced for UK users seeks to eliminate the need for first converting crypto investments back into fiat before spending.

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Justinas Baltrusaitis

Justin crafts insightful data-driven stories on finance, banking, and digital assets. His reports were cited by many influential outlets globally like Forbes, Financial Times, CNBC, Bloomberg, Business Insider, Nasdaq.com, Investing.com, Reuters, among others.