Binance launches marketplace for inscription tokens
Quick Take
- Binance is taking on its major rival OKX, which introduced similar features earlier this week, to tap the inscriptions market.
Binance today announced the launch of “Binance Inscriptions Marketplace,” allowing users to buy, sell and mint inscription tokens.
In a statement shared with The Block, Binance said the new platform is hosted within a self-custody crypto wallet on its app — enabling users to trade or inscribe BRC-20 tokens, EVM tokens and other inscription tokens.
“Our platform not only supports the trade of inscriptions but also facilitates the minting of BRC-20 and EVM tokens, thus lowering transaction costs,” a Binance spokesperson told The Block.
“With significant milestones recently like the BRC-20 token ORDI reaching a $1 billion market cap, and over 200 million inscriptions across various blockchains, we believe our arrival into this space is timely rather than belated, marking the ripe moment for Binance users to explore and benefit from this evolving realm," they added.
Binance noted that its new product adopts the API of UniSat, an ordinals and inscriptions marketplace. Such an approach allows its users to access UniSat’s liquidity and the offerings of over 60,000 BRC-20 tokens, according to the statement.
Binance’s newly launched inscriptions marketplace follows OKX’s move earlier this week to enable Doginals, Atomicals, Stamps and Runes inscription standards.
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