The team behind the Shiba Inu Ecosystem is expanding it further through a new partnership with financial solutions provider Mass Finance Inc. (Mass).
In exciting Shiba Inu news today, the Shiba Inu Ecosystem X handle announced a partnership yesterday, emphasizing that this collaboration will take SHIB to the next level, especially in the financial sector.
According to the announcement, Mass will serve as Chaibon’s financial layer, with plans to incorporate AI-driven fiscal and legal solutions into the ecosystem.
Shiba Inu SHIB takes the lead in reacting
It’s worth noting that the Shiba Inu Ecosystem team first hinted at the collaboration with Mass during their keynote at the recently concluded ETHToronto 2024 conference.
Shiba Inu lead developer Shytoshi Kusama confirmed this in a post yesterday. He said the team first mentioned the partnership during the keynote at the ETHToronto 2024 conference.
The conference took place on August 13-14, and the Shiba Inu ecosystem team unveiled several upcoming initiatives, including a new partnership with a financial entity. Two months after revealing the partnership, Shiba Inu has now officially unveiled Mass as that entity.
Large scale solutions
Specifically, Mass provides an all-in-one operating system (OS) to help businesses simplify their development processes and settings. Currently, its financial services platform is in private beta.
Meanwhile, the team behind Mass has made significant progress in the financial sector and has established partnerships with well-known companies. The company has partnered with multinational financial services company Stripe to provide account and remittance services. Through this partnership, Mass' funds will be held at Evolve Bank & Trust.
Additionally, Mass Financial holds a Visa license, allowing it to launch its own Visa prepaid cards. Business financing and commercial lender Celtic Bank is responsible for issuing these cards to Mass customers.
Potential benefits of SHIB
Shiba Inu’s partnership with Mass Financial marks an important step in SHIB’s transformation from a memecoin to a utility token. It will also increase Shiba Inu’s visibility in the financial sector and has the potential to boost SHIB’s value in the long term.
At the same time, the price of SHIB has also risen sharply. Yesterday, SHIB rose 5.31% intraday, and the price rose to a daily high of $0.00001893.
Although SHIB’s price has retreated to $0.00001819, the altcoin still achieved a 24-hour increase of 2.03% and a weekly gain of 5.19%.
