Binance has introduced the “Binance Inscriptions Marketplace,” a new platform enabling users to engage in the buying, selling, and minting of inscription tokens. This marketplace, integrated within a self-custody crypto wallet on the Binance app, empowers users to seamlessly trade or inscribe BRC-20 tokens, EVM tokens, and various other inscription tokens.
According to a statement provided to The Block, Binance’s platform not only supports inscription token trading but also facilitates the minting of BRC-20 and EVM tokens, thereby reducing transaction costs for users. A Binance spokesperson emphasized the significance of this launch amid recent milestones, such as the BRC-20 token ORDI reaching a $1 billion market cap and the proliferation of over 200 million inscriptions across various blockchains.
The spokesperson further highlighted the strategic timing of Binance’s entry into this space, noting the ripe opportunity for Binance users to explore and capitalize on the evolving realm of inscription tokens. Notably, Binance’s new product leverages the API of UniSat, an ordinals and inscriptions marketplace, granting users access to UniSat’s liquidity and an extensive array of offerings, including over 60,000 BRC-20 tokens.
This move by Binance follows OKX’s recent initiative to enable Doginals, Atomicals, Stamps, and Runes inscription standards, underscoring the growing momentum and interest surrounding inscription token standards within the crypto industry. With the launch of the Inscriptions Marketplace, Binance aims to provide its users with enhanced opportunities to participate in this burgeoning sector and leverage its potential benefits.