Shiba Inu enters billion-$-market with VISA partnership – Will it drive SHIB price to $1?

  • SHIB gets added to top-up options for Guarda’s Wallets Prepaid Visa Cards. 
  • The integration is the latest in a string of payment use cases that SHIB has been gaining. 

Shiba Inu (SHIB) clinches a new milestone in its emergence into the multi-billion-dollar payment market. Leading non-custodial cryptocurrency wallet platform, Guarda, has announced that payments using SHIB are now enabled at over 60 million stores worldwide.

The feat is thanks to Guarda’s integration of the memecoin on its prepaid Visa card offering. The platform also announced the integration of other tokens, bringing the total number of supported cryptos to over 20. Other new additions include BUSD, DAI, DOGE, AAVE, and ATOM.

The integrations are aimed at allowing Guarda Wallet users easily top up their Guarda prepaid Visa cards to shop during the holiday season.

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The platform launched the card offering back in August this year. At the time, it stated that the offering was available in over 25 European Union countries. It includes options for both physical and virtual cards. The cards can also be added to other payment solutions like Apple Pay and will work everywhere Visa cards are supported.

“Guarda Wallet is thrilled to announce the release of its own prepaid Visa card. You can use this card anywhere Visa is accepted, which means you can use it for online shopping, in-store purchases, and much more,” the company noted.

Guarda is not the only payment solution to announce support for SHIB recently. Last month also saw FCFPay roll out further support for the memecoin. The company announced that SHIB holders can now pay for flight tickets with SHIB at both American Air and Air Canada.

FCFPay crypto-enabled prepaid Visa cards were already accepted at hundreds of online merchants including Netflix and Amazon. Similar to Guarda’s integration, FCFPay cards can also be added to Apple/Google pay, but only in the U.S. and Canada.

It added that SHIB can now be accepted by hundreds of online merchants including subscription-based streaming service Netflix and e-commerce giant Amazon. FCF Pay also enables users of its virtual Visa cards to connect to Apple/Google Pay in the U.S. and Canada and convert their crypto to local currency.

Will payments use case adoption drive SHIB to new price highs?

The adoption SHIB is seeing in the payments industry has the potential to move the token from being a memecoin to a coin with more utility. This could in turn drive the price of SHIB to higher price levels.

At press time, SHIB was trading at around $0.0000088, up 3.08% in the last 24 hours. This marks an about 90% drop from its previous all-time high price of $ 0.0000875 reached in October 2021.

Meanwhile, payments are not the only use case for which SHIB is seeing adoption. The Shiba Inu ecosystem is also awash with anticipation for the launch of projects including a metaverse platform and a layer 2 scaling solution.