Binance Inscription Marketplace Enables ARC-20 Token Support

Binance Inscription Marketplace responds to user needs with support for ARC-20 token standard.

by Brian Danga. Fact checked by: Ciaran Lawler, Editor: Stefan Trapp

Published: April 3, 2024 │ 10:34 AM GMT

Binance Inscription Marketplace has enabled support for a new token standard.
The token standard is built on an emerging protocol.
Binance also added a new feature to its Web3 wallet.

Binance Inscription Marketplace has enabled support for ARC-20, a fungible token standard built on the emerging Atomicals Protocol.

Accessible via the Binance Web3 Wallet, Binance Inscription Marketplace allows users to buy, sell, and mint a wide range of inscription tokens, including BRC-20 and EVM. The marketplace is powered by BTC Transaction Accelerator, which also facilitates faster Bitcoin transactions on the platform.

Enhancing the Accessibility of ARC-20 Tokens

According to a press release dated April 3, Binance Inscription Marketplace has integrated Atomicals Market’s API, allowing users to trade and transfer ARC-20 tokens conveniently within the Binance app starting today.

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Binance Product Marketing Lead Sherrine Tan said the move echoes the company’s priority to provide Web3 users with the tools and capabilities they need to tap the full potential of the crypto 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,” Tan stated.

In celebrating the milestone, Binance partnered with Atomicals Market to offer trading of ARC-20s with zero service fee exclusively on its inscription marketplace for two months, from April 3 to June 2, 2024.

Binance further said it had enabled support for the BTC Taproot address on its Web3 wallet, allowing users to choose between the Taproot or Native SegWit. With the feature, users can also create or import existing BTC wallets to view their assets.