Shiba Inu-Friendly Payment Gateway Gains More Traction with Merchants

Fashion label John Richmond, fast-food chain Welly’s and pizzeria Sorbillo’s have started accepting Shiba Inu (SHIB) and Doge Killer (LEASH) in partnership with non-custodial cryptocurrency payment gateway NowPayments.

As reported by U.Today, NowPayments recently introduced a fee-burning mechanism that allows merchants to burn a certain percentage of profits they receive in the two aforementioned cryptocurrencies. Such a feature allows removing the tokens from circulation, thus making them more valuable.

Sorbillo’s offered the Shiba Inu community a 5% discount in late June, becoming one of the first merchants to support the token before it penetrated mainstream consciousness in late 2021.

Welly’s, a burger joint located in Naples, Italy, performed a rebrand in early February, making Shiba Inu its mascot. As reported by U.Today, the restaurant announced its plan to expand globally last month, turning into a full-fledged fast-food chain.

Finally, John Richmond, a fashion house that was founded by British fashion designer John Richmond in the 1980s, formed a non-fungible token (NFT) partnership with the Shiba Inu team earlier this month to launch a virtual fashion collection. It will now also accept SHIB and LEASH in partnership with NowPayments.

The aforementioned companies have made “the final step” toward fully embracing cryptocurrencies. John Richmond, Welly’s, and Sorbillo’s will also be able to assist in burning SHIB and LEASH tokens.  

Earlier this month, AMC Theatres, the world’s largest cinema chain with 930 movie theaters around the globe, started accepting Shiba Inu and rival Dogecoin in partnership with BitPay.

Shiba Inu remains in 15th place by market capitalization, currently trading at  $0.00002487 on the Binance exchange. The meme coin is down 71.07% from its record peak.