One of crypto’s biggest rivalries took a surprising turn as Coinbase prepares to list Binance’s flagship token, BNB.
Key Takeaways
- Coinbase has added Binance’s BNB token to its official listing roadmap, signaling future support for the rival asset.
- The move follows public disputes over token listing fees, transparency, and practices among major crypto exchanges.
- Coinbase introduced a new “Blue Carpet” listing process, emphasizing no listing fees and increased transparency.
- BNB has seen a strong month, buoyed by massive token burns, ETF speculation, and institutional buying.
What Happened?
Coinbase has taken a major step by adding Binance Coin (BNB) to its asset roadmap, indicating plans to list the token once the necessary technical and market-making infrastructure is ready. This is the first time the US-based exchange has formally recognized support for a flagship token from its chief competitor, Binance. The announcement came just hours after Coinbase unveiled its “Blue Carpet” initiative, a new protocol promising greater transparency and fairness in token listings.
Assets added to the roadmap today: BNB (BNB)https://t.co/lyEugQo7Cv
— Coinbase Markets 🛡️ (@CoinbaseMarkets) October 15, 2025
Coinbase’s Surprise Move
Coinbase’s decision to add BNB to its roadmap came amid an ongoing industry debate around listing standards and fees. The controversy intensified after Limitless Labs CEO CJ Hetherington, whose firm is backed by Coinbase Ventures, accused Binance of requiring token allocations as part of its listing process. Binance publicly denied the claims as “false and defamatory.”
In response, Jesse Pollak, head of Coinbase’s Base network, reiterated that listings should be completely free. He said, “Listings should cost 0%,” challenging Coinbase to “lead by example.” Within hours, Coinbase did exactly that, announcing BNB’s addition to its listing roadmap and reaffirming that no listing or application fees are charged.
Coinbase Markets emphasized that BNB trading would commence once market-making support and technical integration are fully in place.
The Blue Carpet Framework
Coinbase’s blog post on the new “Blue Carpet” initiative lays out its plan to improve collaboration with asset issuers and ensure a merit-based, transparent listing process. It aims to streamline how tokens get listed, focusing on regulatory compliance and technical readiness.
This framework reflects Coinbase’s strategy to build trust with both users and developers, especially as the exchange seeks to distinguish itself in a highly competitive space.
Why BNB Matters?
BNB is the native token of the BNB Chain, which powers Binance’s blockchain ecosystem and decentralized finance (DeFi) applications. It is currently the third-largest cryptocurrency by market capitalization.
BNB has also enjoyed a strong performance over the last month. CoinGecko data shows a 27% price gain, outpacing Bitcoin, Ethereum, and Ripple XRP. That momentum has recently cooled, with BNB dropping 11% this week to around $1,166.
The earlier surge was partly fueled by Binance’s $1 billion token burn in July, executed through the BNB Foundation. That burn significantly reduced supply and drove prices up. Another potential driver is VanEck’s BNB ETF application, which could attract even more investor interest if approved.
Meanwhile, on-chain activity is also rising. According to DefiLlama, the total value locked (TVL) on BNB Smart Chain rose 9.89% in just 24 hours, pushing past the $9 billion mark. Increased interest from corporate treasuries and institutional investors is believed to be a major factor.
CoinLaw’s Takeaway
In my experience, it’s rare to see such a high-profile exchange like Coinbase openly support a rival’s core asset, especially after years of silence. This isn’t just about adding another token. It’s a calculated move to show leadership in transparency and fairness at a time when the industry is demanding change. By embracing BNB and launching the “Blue Carpet,” Coinbase is putting its credibility on the line and challenging others to follow. It’s a bold signal to both regulators and users that clear, open listing standards are the future. And if institutional interest in BNB continues growing, this could be a pivotal moment for its long-term value.
