Nikolas Sargeant
Binance, the world’s leading cryptocurrency exchange by trading volume, announced on Wednesday that its Binance Inscription Marketplace now supports ARC-20 tokens.
ARC-20 is a fungible token standard built on the emerging Atomicals Protocol on Bitcoin. According to the press release shared with Cryptowisser, Binance said users can now trade and transfer ARC-20 tokens on the Binance Inscription Marketplace.
The expansion now means that the Binance Inscription Marketplace is one of the few platforms that supports a wide range of inscription assets, including BRC-20, EVM, and the newly incorporated ARC-20 tokens.
While commenting on this latest 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.”
To power its support for ARC-20 tokens, Binance collaborated with Atomicals Market, the largest marketplace for ARC-20 tokens. The Binance Inscriptions Marketplace leverages the API of Atomicals Market, making it easier for users to access a wide range of ARC-20 token offerings.
X, CEO at Atomicals Market, commented that:
“Our partnership with Binance marks a significant step forward in making ARC-20 tokens easily accessible to the crypto community. We are excited to introduce the depth of opportunities that the Atomicals Protocol offers to Binance’s extensive global user base and an even broader spectrum of users. It's an exciting time for both Atomicals Market and Binance users - the future is bright and full of immense possibilities!”
Thanks to its partnership with Atomical Market, Binance offers trading of ARC-20s with zero service fee exclusively on Binance Inscription Marketplace for a limited time. This offer will last for two months, from April 3 to June 2, 2024.
The Binance Inscription Marketplace supporting a wide asset class is possible thanks to the addition of an important new feature allowing users to mark Bitcoin Unspent Transaction Outputs (UTXOs) manually. This feature allows users to mark any conflicting asset as their desired choice, enhancing their experience by facilitating an extensive asset offering for users and enabling them to seamlessly use their chosen assets.
The Binance Inscriptions Marketplace makes it easy for users to buy, sell and mint a wide range of inscription tokens. The platform is powered by BTC Transaction Accelerator which facilitates faster Bitcoin transactions.
The cryptocurrency exchange also revealed that its Web3 wallet now supports the BTC Taproot address. With this, users can now choose between the Taproot or Native SegWit. They can also create or import their existing BTC wallets to view their assets.
Binance is the world's leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by trading volume.
