Binance is excited to announce that the Binance Inscription Marketplace now accepts ARC-20 tokens. ARC-20 is a fungible token standard that is based on the developing Atomicals Protocol on Bitcoin. Binance is a trusted global blockchain ecosystem with over 185 million users worldwide. In addition to the many features already available on the platform, users can now trade and transfer ARC-20 tokens on the Binance Inscription Marketplace.
With this latest development, the Binance Inscription Marketplace joins the exclusive group of platforms that support a wide variety of inscription assets, including BRC-20, EVM, and the recently added ARC-20 tokens.
Sherrine Tan, the Product Marketing Lead at Binance, stated:
“The availability of a significant new feature that allows users to manually label Bitcoin Unspent Transaction Outputs (UTXOs) makes it possible to support such a diverse range of assets. UTXO management is crucial due to the different inscription protocols on the Bitcoin network. Users are able to choose which conflicting asset they would like to use. In short, this feature enhances the user experience by offering a wide range of assets to choose from and allowing them to utilize those assets without worrying about the underlying technological details.”
The Binance Inscriptions Marketplace is a user-friendly and easily accessible platform for purchasing, selling, and minting inscription tokens. It is housed within the Binance Web3 Wallet, a self-custody crypto wallet that can be accessed via the Binance app. The platform is powered by the BTC Transaction Accelerator, enabling faster Bitcoin transactions.
As a further testament to Binance’s commitment to fostering the growth of the Bitcoin ecosystem, the Binance Web3 Wallet now supports the BTC Taproot address. This allows users to easily create or import their existing Bitcoin wallets to view their assets and choose between Taproot and Native SegWit.
The Atomicals Market, the largest marketplace for ARC-20 tokens, provides its API to the Binance Inscriptions Marketplace. Through this strategic partnership, users can access a wide range of ARC-20 token offerings and take advantage of the convenience and security provided by the Binance Web3 Wallet, making it easier for them to get started with ARC-20 tokens and the Atomicals Protocol.
X, CEO at Atomicals Market, commented:
“Furthermore, Binance and Atomicals Market are collaborating to enable trading of ARC-20s on the Binance Inscription Marketplace with zero service fees for a certain period of time in celebration of this milestone. The two-month promotion will run from April 3, 2024, until June 2, 2024.”
This development comes shortly after Binance added several Solana-based decentralized apps to its Web3 Wallet and integrated the Solana network. As part of its ongoing efforts to address user demands and provide them with early access to the latest product advancements, Binance continues to innovate and enhance its platform.