Binance Inscription Marketplace now supports ARC-20 tokens

Binance, the world’s largest crypto exchange with a massive user base of over 185 million, today announced that its Binance Inscription Marketplace now fully supports ARC-20 tokens. Unlike other token types, ARC-20 tokens operate on the ARC-20 protocol, enabling users to mint and transfer colored tokens onto the blockchain effortlessly.

ARC-20 tokens have been circulating for a couple of years now, offering a unique approach to tokenization. This protocol, intertwined with the emerging Atomicals Protocol on Bitcoin, provides a solid foundation for these fungible tokens.

What makes this a game-changer? ARC-20 tokens, nested within the Atomicals Protocol on Bitcoin, are now primed for trading and transfer within the Binance ecosystem, effective immediately. This also means that users can now trade and transfer ARC-20 tokens directly within the Binance ecosystem, adding another layer of versatility to its already robust set of features.

This move elevates Binance Inscription Marketplace into an elite league, joining the ranks of platforms supporting a diverse array of inscription assets including BRC-20 and EVM, alongside the fresh inclusion of ARC-20 tokens.

Sherrine Tan, Binance’s Product Marketing Lead, encapsulates the excitement, stating, “Our decision to support ARC-20 tokens trading is a direct response to our users’ interests.” This expansion not only responds to user demands but also opens up a new horizon of possibilities, amplifying accessibility and security in exploring the Atomicals Protocol.

Fueling this expansion is a pivotal feature enabling users to manually mark Bitcoin Unspent Transaction Outputs (UTXOs). With the intricacies of various inscription protocols on the Bitcoin network, UTXO management emerges as a critical facilitator, empowering users to navigate diverse assets seamlessly.

The Binance Inscription Marketplace, nestled within the Binance Web3 Wallet, is your go-to portal for buying, selling, and minting inscription tokens. Plus, with the integration of BTC Transaction Accelerator, transactions are expedited for a smoother experience.

In a nod to Bitcoin’s evolution, Binance now supports BTC Taproot addresses within its Web3 Wallet, offering users the flexibility to choose between Taproot or Native SegWit for their wallets.

This synergy doesn’t stop here; Binance has forged a strategic partnership with Atomicals Market, leveraging its API to grant users access to a plethora of ARC-20 tokens. X, CEO at Atomicals Market, heralds this collaboration as a giant leap towards democratizing ARC-20 tokens, inviting a broader user base into the fold.

“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!” X said.

To mark this milestone, Binance is teaming up with Atomicals Market to offer zero service fee trading of ARC-20s exclusively on Binance Inscription Marketplace for two months, from April 3 to June 2, 2024.

This announcement builds upon Binance’s recent strides, including the integration of the Solana network and selected Solana-based decentralized applications into its Web3 Wallet. It’s a testament to Binance’s commitment to staying ahead of the curve and catering to user needs with cutting-edge advancements.

In a disclaimer, Binance has emphasized that its Binance Web3 Wallet is an optional offering. Users need to assess whether this product aligns with their needs and preferences. Binance explicitly states that it holds no responsibility for users’ access or utilization of third-party applications, including any features integrated within the Binance Web3 Wallet. Consequently, Binance disclaims any liability associated with user’s interactions with such third-party applications, including any transaction disputes. Users are strongly advised to thoroughly review the Binance Web3 Wallet Terms of Use and conduct their own research before making any decisions.