Binance launches a marketplace for Inscriptions on the Bitcoin network and EVM-enabled blockchains

The trading platform is available in the non-custodial wallet of the exchange

01.02.2024 - 11:57

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2 min

What’s new? Crypto exchange Binance has announced the launch of a marketplace for issuing and trading Inscriptions tokens. The Binance Inscriptions Marketplace is available in a non-custodial wallet on the exchange’s app and supports BRC-20-based assets on the Bitcoin network as well as coins created on networks supporting the Ethereum Virtual Machine (EVM).

Source: Twitter.com

What else is known? Binance’s new product utilizes UniSat’s bitcoin NFT trading platform API. This approach provides users with access to UniSat’s liquidity and offerings of over 60 000 BRC-20 tokens.

A spokesperson for the exchange in a comment to The Block called the product launch very timely, given recent important developments such as the first BTC-20 token ORDI reaching a $1 billion capitalization and users issuing over 200 million Inscriptions cumulatively across multiple blockchains.

Inscriptions are digital records by which images, video, audio, text, or code are placed on the blockchain itself, rather than outside of it. The BRC-20 standard allows for the creation of fungible tokens on the bitcoin network.

Ordinals and Inscriptions: the fundamentals of BRC-20 tokens

We explain the distinctive features and ways of storing tokens and NFTs based on the blockchain of the first cryptocurrency

Earlier, the OKX crypto wallet added support for new types of Inscriptions on various networks, including SRC-20 (Stamps), ARC-20 (Atomicals), DRC-20 (Doginals), and Runes. Thanks to the early addition of bitcoin NFT support, the OKX marketplace overtook the leading marketplaces in terms of trading volume in December.

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