Shiba Inu Enters Japan's Largest Platform..."No Longer a Joke"

▲ Shiba Inu (SHIB)/ChatGPT Generated Image

Rakuten Group, which boasts Japan's largest IT and financial ecosystem, has officially incorporated Shiba Inu (SHIB) as a tradable asset, making the 'mainstream financial entry' of meme coins a reality.

According to cryptocurrency media outlet The Crypto Basic on April 8 (local time), Shiba Inu has been listed on Japan's Rakuten Wallet, with spot trading supported from April 15. Japanese users will be able to directly buy and sell SHIB using Japanese Yen, and also exchange it with existing supported cryptocurrencies.

This listing is considered a case where SHIB has elevated its position in Japan. SHIB was already recognized as a regulatory-approved asset, included in the 'Greenlist' of the Japan Virtual and Crypto Asset Exchange Association (JVCEA), and given the nature of the Japanese market which requires strict screening, the listing itself signifies high credibility.

Rakuten Wallet is a platform under Rakuten Group, a leading Japanese IT company, securing millions of users based on a vast ecosystem that connects various financial services such as e-commerce, payments, banking, and cards. With this integration, SHIB is directly exposed to everyday financial service users, expecting the effect of expanding both accessibility and liquidity simultaneously.

Notably, SHIB is being incorporated as a tradable asset alongside major cryptocurrencies such as XRP, Dogecoin (DOGE), Stellar (XLM), and Toncoin (TON). Analysis suggests that its market status has changed, as it is now treated on par with major digital assets, moving beyond being a mere meme coin.

This measure coincides with changes in the regulatory environment of Japanese financial authorities. Japan's Financial Services Agency is reviewing plans to lower the cryptocurrency tax system from the existing 55% to 20%, while also promoting expanded institutional access and digital financial policies. In this trend, SHIB's listing is considered an example demonstrating the simultaneous progress of institutional integration and popularization.

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