• Fireblocks will allow merchants to integrate Shiba Inu (SHIB) directly into their operations and process them faster, at lower costs, and with greater transparency.
• The Shiba Inu (SHIB) burn activity also shot up 1900 percent this week contributing to its price rally.

Memecoin Shiba Inu (SHIB) has been getting a lot of traction recently. In addition to some key developments in the Shiba Inu ecosystem, the meme cryptocurrency is seeing greater acceptance as a form of payment.

Using Fireblocks Crypto Payments Engine, millions of merchants across the world will now be able to accept payments in Shiba Inu (SHIB). The multi-billion dollar crypto infrastructure services provider, Fireblocks, recently launched its crypto payments engine in partnership with one of the world’s payment processing firms, FIS WorldPay.

The Fireblocks Crypto Payments Engine comes with a new set of tools that will allow merchants to accept, manage and settle cryptocurrency transactions, including Shiba Inu. The crypto payments engine from Fireblocks allows for faster fiat-to-crypto and fiat-to-fiat cross-border transfer solution merchant settlements. This further makes it easy for Payment Service Providers (PSPs) to settle transactions easily across multiple currencies.

Interestingly, Fireblocks will allow merchants to integrate Shiba Inu directly into their operations and process them faster, at lower costs, and with greater transparency. Earlier this year, Fireblocks successfully conducted a pilot test of crypto payments with its partner Checkout.com.

Along with Shiba Inu (SHIB), Fireblocks will also allow merchants to accept the Bone ShibaSwap (BONE) crypto. The crypto infrastructure services provider currently supports payments for more than 1300 cryptocurrencies.

Earlier this month, Canada-based crypto payment gateway, FCFPay also allowed its customers to make payments using Shiba Inu (SHIB). This will allow users to subscribe to their favorite streaming services Netflix and Amazon as they accept the FCFPay Visa card.

The SHIB Price Rally

Amid the broader crypto market rally this week, memecoin Shiba Inu (SHIB) also participated in a strong price surge. Interestingly, Shiba Inu continued with its price rally for the second day.

As of press time, Shiba Inu is trading up 7.23 percent at a price of $0.00001122 with a market cap of $6.1 billion. Amid the recent price surge, Shiba Inu has also climbed up the ranks to become the 14th largest crypto by market cap.

The recent price rally for Shiba Inu has also been fueled by a sudden spike in the SHIB burning activity. Over the last week, the SHIB burn activity has surged by nearly 1900 percent. Earlier this week, nearly 45 million SHIB coins were burnt in just 24 hours.

Additionally, the Shiba Inu has revealed a major upgrade in the SHIB metaverse. The team unveiled a new concept art for the future SHIB-themed Metaverse. The team has released new concept art for a new hub of the Metaverse called Dunes.

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