Major Japanese cryptocurrency exchange OKCoinJapan announced today that it will add Polygon chain support for two cryptocurrencies: Shiba Inu (SHIB) and DAI.
The support is scheduled to start on Sept. 7 at 5:00 p.m. JST. Both digital assets are compatible with the Ethereum ERC20 chain.
As reported by U.Today, OKCoin Japan initially added support for SHIB in February.
With the introduction of Polygon support, users will have more flexibility for entry and exit transactions of these tokens.
The exchange has already been offering multichain support for other prominent cryptocurrencies, including Ethereum (ETH), Arbitrum (ARB), Avalanche (AVAX), Polygon (MATIC) and Palette (PLT).
Polygon, formerly known as Matic, serves as a Layer 2 scaling solution for Ethereum, aiming to provide faster and cheaper transactions.
By adding Polygon support, OKCoinJapan could potentially reduce transaction costs for its user base, given Polygon’s efficiency compared to traditional Ethereum transactions.
As of today, the price of SHIB stands at $0.00000814, with a market capitalization of approximately $4.8 billion and a 24-hour trading volume of around $94.7 million.
The move by OKCoinJapan to add Polygon support for SHIB could potentially increase its liquidity and make it more accessible to a broader audience.