Usa-based digital asset exchange Kraken has announced information technology will begin supporting the viral memecoin Shiba Inu (SHIB) as of November. thirty.

There will exist a minimum deposit of 373,000 SHIB ($xvi), and the minimum trading book is 50,000 SHIB ($2). SHIB volition initially be tradeable against the U.S. dollar and euro pairs, however, Kraken Futures and Margin Trading for SHIB won't exist available at launch.

Kraken Australia managing director Jonathon Miller told Cointelegraph that the crypto marketplace supports projects with a articulate demand for trading, including SHIB.

At the time of publishing, SHIB is the 12th-largest cryptocurrency with a marketplace capitalization of $25.81 billion. SHIB has surged over 20% in the last 24 hours on the listing news.

Miller added, "I wouldn't depict Kraken every bit existence the identify where every single money is listed, that's not been what nosotros have been known for."

Kraken is one of the to the lowest degree conservative exchanges with 93 avails on the substitution in total. Meanwhile, Coinbase supports 51 assets, and Robinhood just supports seven.

Other exchanges have been hesitant to list the Dogecoin-inspired altcoin over regulatory concerns, despite increasing pressure from their users. On Friday, SHIB surpassed 1 million holders despite trading 50% beneath its all-time high.

On Nov. ten, Robinhood chief operating officer Christine Brown said that the platform's "strategy is different than a lot of the other players out there who are racing to list as many avails as possible right now." The Change.org petition requesting that Robinhood list the Shiba Inu coin has clustered over half a one thousand thousand signatures.

Miller added, "There are certain services that we have that don't really fit the regulatory mold. Then there's this gray expanse that the whole manufacture exists in, and that's not specific to the states."

"That's just the nature of the fact that we're dealing with an innovative engineering science that actually doesn't necessarily fit the criteria that existing regulators perceive as possible."

Related : Reserve Bank warns Aussies over punting on 'fad driven' cryptocurrencies

Describing the electric current regulatory climate for digital asset exchanges, Robinhood primary legal officeholder Dan Gallagher said at the Georgetown Academy Financial Markets Quality Conference on November. 19 that "It's a very tense situation, and it does telephone call for regulatory clarity which we haven't seen nevertheless."