Samsung-backed crypto wallet service ZenGo adds Shiba Inu to its platform – Shiba Inu ($ SHIB)

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ZenGo, a Samsung-backed cryptocurrency wallet service, said it has added the Shiba Inu meme cryptocurrency (CRYPTO: SHIB) to its platform.

What happened: ZenGo made the announcement on Twitter.

Spread the news #SHIBArmy @ShytoshiKusama: @Shibtoken is now available on ZenGo!

Why we are so excited for $ SHIB: https://t.co/EMzKidFbZ8 pic.twitter.com/IvcHvAbzHb

– ZenGo (@ZenGo) November 16, 2021

The Israel-based company also said in a blog post that its users can now buy, send, receive and redeem Shiba Inu tokens directly through its platform.

ZenGo is a keyless, non-custodial wallet, which means the user – rather than the company – maintains control over the user’s cryptocurrency assets. ZenGo wallets are generated using 3D facial biometrics.

ZenGo said in April that it raised $ 20 million in a Series A funding round. Samsung Next, Samsung’s venture capital fund, was one of the notable investors.

See also: How to buy a Shiba Inu coin (SHIB)

Why it matters: ZenGo’s announcement highlights the growing acceptance of Shiba Inu, an Ethereum-based token created as a rival to Dogecoin (CRYPTO: DOGE).

Large companies have now started to accept Shiba Inu for payments. AMC Entertainment Holdings Inc. (NYSE: AMC) said Monday that the movie theater chain will accept the Shiba Inu token for payments over the next four months.

Shiba Inu is currently the 11th largest cryptocurrency by market cap, just behind Dogecoin, according to CoinMarketData.

Price Action: Shiba Inu is down 6.7% in the past 24 hours, trading at $ 0.00004731 at time of publication.

Read more: Anonymous crypto wallet moves $ 921 million worth of Bitcoin

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