Binance launches support for ARC-20 tokens on its inscription marketplace

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Prominent crypto exchange Binance announced today the addition of Atomicals (ARC-20) tokens to its inscription marketplace. This integration expands the marketplace’s reach, which already supports major inscription assets, including BRC-20 and EVM tokens.

ARC-20 tokens are built on the Atomicals Protocol on Bitcoin, representing a new frontier in the fungible token standard. Starting today, Binance users can trade and transfer ARC-20 tokens on the Inscription Marketplace, leveraging the platform’s robust features and user-friendly interface.

Sherrine Tan, Binance Product Marketing Lead, expressed the company’s commitment to aligning with user interests. He stated:

“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 achieve this expansion, Binance refers to the implementation of a key feature that enables users to “manually mark Bitcoin Unspent Transaction Outputs (UTXOs).” According to the firm, this new feature allows users to easily focus on their investment choices without the burden of underlying technical complexities and navigate the inscription asset landscape.

The Binance Inscription Marketplace is hosted within the Binance Web3 Wallet, a self-custody crypto wallet integrated into the Binance app. This development is further enhanced by the support for BTC Taproot addresses in the Binance Web3 Wallet, facilitating user choice between Taproot or Native SegWit addresses for Bitcoin transactions.

X, CEO of Atomicals Market, highlighted the significance of the partnership with Binance. He said:

“Our partnership with Binance marks a significant step forward in making ARC-20 tokens easily accessible to the crypto community. It’s an exciting time for both Atomicals Market and Binance users – the future is bright and full of immense possibilities!”

To celebrate the arrival of ARC-20 tokens, Binance is offering free trading on these tokens within the Inscription Marketplace from April 3 to June 2, 2024. This zero-fee window aims to incentivize users to explore the new offerings and contribute to Binance’s vibrant ecosystem.

Binance’s latest development follows its integration of the Solana network and support for select Solana dApps in its Web3 Wallet. It reflects the firm’s ongoing commitment to innovation and responsiveness to user needs, ensuring they remain at the forefront of crypto market trends.

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