Shiba Inu Makes History as First U.S. Public Company Begins Accepting SHIB For Payments

05.07.2024 / Payment system news

Kronos Advanced Technologies has made a groundbreaking announcement, becoming the first public company in the United States to accept Shiba Inu (SHIB) as a form of payment.

In a June 6th SEC filing, the U.S., Oregon-based company expressed its excitement about this new venture, noting that it believes that integrating SHIB payments will provide a seamless and secure transaction experience for its customers.

“We are thrilled to be the first public company to accept SHIB as a form of payment for our air purification products,” stated Greg Rubin, CEO of the company.

Shiba Inu, currently the “second-largest meme coin by market capitalization,” after Dogecoin (DOGE) has seen remarkable growth and widespread adoption in recent years. With approximately 1.38 million SHIB wallet holders as of 2024, the token’s popularity among cryptocurrency enthusiasts is undeniable. This widespread ownership was a significant factor in Kronos’ decision to accept SHIB.

The decision to accept SHIB comes from the token’s remarkable growth and widespread adoption. As a decentralized cryptocurrency, SHIB has gained a significant following and is now considered one of the most promising digital assets in the market. Kronos recognizes the potential of this innovative payment method and is excited to offer its customers a new way to invest in their health and well-being.” The firm wrote.

To celebrate this milestone, Kronos is launching a limited-time promotion for customers who choose to pay with SHIB. By using the coupon code “SHIBARMY10,” customers will receive a 10% discount on their order. This initiative encourages the use of SHIB and enhances Kronos’ customers’ value proposition.

Notably, Kronos’ move to accept SHIB is part of a broader trend of companies integrating cryptocurrency payments, with businesses such as American Air and Air Canada already accepting the token for payments through various third parties. By embracing SHIB, Kronos positions itself at the forefront of this transformation, catering to a tech-savvy customer base that values innovation and convenience.

We are confident that this partnership will further enhance our customers’ experience and solidify our position as a leader in the air purification industry,” Rubin added. 

As the first U.S. public company to accept SHIB, Kronos Advanced Technologies is paving the way for other companies to follow suit. This strategic move highlights the potential of cryptocurrency payments to revolutionize traditional business models and offer new opportunities for growth and customer engagement.

That said, the decision to accept SHIB payments comes at a time when the cryptocurrency market is experiencing significant volatility. Despite a 35.67% decline in the last 30 days, SHIB has increased its value by 99% year-to-date.

At press time, SHIB was trading at $0.0000152, reflecting a 5.77% decline over the past 24 hours, as per CoinMarketCap data.