Filipino boxing legend Manny Pacquiao has announced that his charity will use the Shiba Inu network to raise funds.
In Wednesday's announcement, world champion politician Manny Pacquiao said the Shiba Inu Foundation will implement the Layer 2 blockchain. Shibarium In the foundation work.
The Manny Pacquiao Foundation is a non-profit run by the former fighter.
Shibarium is a layer-2 network supported by SHIB tokens running on Ethereum. kick off In August, the idea was to make the network faster and cheaper to build and trade on Ethereum.
“The Manny Pacquiao Foundation will use Shibarium to better facilitate, facilitate and document its activities, including tracking fundraising and donations, disbursing funds and managing other resources, providing greater transparency regarding its social good efforts around the world externally,” a Wednesday release said.
He added that the foundation is no stranger to crypto and has been accepting SHIB on its website since 2021.
John Sisson, executive director of the Manny Pacquiao Foundation, added, “The Shibarium allows us to continue this good work while growing jobs to help millions of people.”
Shiba Inu—traded as SHIB—a Same corner And the 19th largest digital asset by market value. It was launched in 2020 to compete with Dogecoin (DOGE) and has since gained a large following. The asset runs on Ethereum and is notoriously volatile.
Following the news about Pacquiao's foundation, the token rose slightly by 1.5% to trade at $0.00000862. CoinGecko.
With the new blockchain, SHIB is hoping to move to the network to run the ecosystem. DeFi Apps and go beyond the meme coin account.
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