Coinspeaker
Binance Inscription Marketplace Boosts Web3 Access with ARC-20 Token Support
In the latest development on April 3, crypto exchange Binance announced that the Binance Inscription Marketplace will now start supporting the ARC-20 tokens. The ARC-20 is basically a fungible token standard built atop the emerging Atomicals Protocol running on the Bitcoin blockchain. Moreover, the Atomicals Market is also the largest marketplace for the ARC-20 tokens.
Thus, users will now be able to transfer and trade the ARC-20 tokens on Binance’s Inscription marketplace. With this recent expansion, the Binance Inscription Marketplace stands out as one of the very few platforms accommodating a wide variety of inscription assets, that includes the BRC-20, EVM, along with newly integrated ARC-20 tokens.
The extensive asset support is because of the incorporation of a significant feature enabling users to manually mark the Bitcoin Unspent Transaction Outputs (UTXOs). Also, the UXTO management on the Bitcoin blockchain network is possible because of the diverse nature of the several inscription protocols running on the Bitcoin blockchain. Speaking on the development, Binance Product Marketing Lead Sherrine Tan said:
“At Binance, our top priority has always been to provide our users with the tools and capabilities they need to harness the full potential of the cryptocurrency landscape. Our decision to support ARC-20 tokens trading is a direct response to our users’ interests. This move unlocks a realm of opportunities, giving users an easy, seamless and secure way to explore the Atomicals Protocol and the vast possibilities of the inscriptions ecosystem.”
About the Binance Inscriptions Marketplace
Located within the self-custody Binance Web3 Wallet, the Binance Inscriptions Marketplace provides users with an accessible and intuitive platform for purchasing, selling, and minting a diverse array of inscription tokens. Powered by the BTC Transaction Accelerator, it ensures faster Bitcoin transactions on the platform.
By leveraging the API of Atomicals Market, the Binance Inscriptions Marketplace enables users to explore the world of ARC-20 tokens along with the Atomicals Protocol. This strategic partnership offers users access to a broad selection of ARC-20 tokens while benefiting from the convenience, simplicity, and security of the Binance Web3 Wallet.
As part of this development, Binance has teamed up with Atomicals Market to offer zero service fees for the trading of ARC-20s exclusively on the Binance Inscriptions Marketplace. However, this offer is valid for a limited period of time. This promotional offer will run for two months, from the 3rd of April to the 2nd of June 2024.
Binance Inscription Marketplace Boosts Web3 Access with ARC-20 Token Support
