Tangem Announces Support for Shiba Inu's Layer 2 Network "Shibarium"

Discover how Tangem's cutting-edge hardware wallets are setting a new standard in cryptocurrency security with their latest announcement to support Shibarium, Shiba Inu's innovative Layer 2 network.

By integrating with Shibarium, Tangem is not only expanding its versatile wallet offerings but also fueling the growth of the SHIB ecosystem, promising a seamless and secure experience for storing, managing, and transacting a wide array of digital assets.

Stay ahead in the crypto game with Tangem's forward-thinking initiatives.

Tangem Begins Integration Process with Shibarium

Tangem, known for its secure hardware wallets capable of storing multiple cryptocurrencies, announced on February 21, 2024, that it has commenced the integration process with "Shibarium", the Layer 2 network of Shiba Inu (SHIB).

Shibarium is a Layer 2 network for Ethereum launched by Shiba Inu in August last year. It offers a fast and low-cost transaction environment. Moreover, it features a mechanism where a portion of the fees collected from on-chain transactions is allocated to the burning (destruction) of SHIB tokens.

Tangem is a company that specializes in hardware wallets for safer cryptocurrency storage using physical devices. Apart from "card-type wallets," Tangem has also developed "ring-type wallets" among others.

Tangem's wallets are compatible with multiple blockchains, enabling users to manage thousands of digital assets issued on various blockchains collectively. The addition of "Shibarium" support has now been announced.

Support Expected to be Completed by the End of February 2024

According to Tangem's report, the work to support Shibarium is expected to be completed by the end of February 2024. It is also reported that an app update will be implemented once the integration is complete.

With various tokens expected to be launched on Shibarium in the future for SHIB-related projects, Tangem's support for Shibarium will allow for safer storage and management of these tokens.

Furthermore, Tangem's app offers various functions such as storing, selling, exchanging, transferring, and earning cryptocurrencies. Enabling exchanges and transfers on Shibarium could invigorate transactions on the network, contributing to the growth of the SHIB ecosystem as a whole.

As a wallet manufacturer with strong ties to the SHIB community, including offering "SHIB-designed card-type wallets," Tangem's future initiatives are also worth watching.

>> Read the latest SHIB-related articles here.