TLDR
- Coinbase added BNB, Binance’s native token, to its listing roadmap on October 15, marking a first for the rival exchange’s flagship asset.
- The announcement came 33 minutes after Coinbase launched The Blue Carpet, a free program giving crypto projects direct access to its listings team.
- BNB roadmap inclusion doesn’t guarantee a listing and requires meeting liquidity, technical, and compliance standards before trading begins.
- The move follows criticism from Arca CIO Jeff Dorman, who accused Coinbase of listing poor assets while ignoring high performers like BNB.
- BNB is the third-largest cryptocurrency by market cap and functions as the gas token for BNB Chain.
Coinbase announced Wednesday it has added BNB to its listing roadmap. This marks the first time the exchange has shown support for Binance’s flagship cryptocurrency.
The exchange posted the news on October 15 at 4:45 p.m. UTC. The announcement followed closely after Coinbase unveiled The Blue Carpet, a new program for asset issuers.
BNB ranks as the world’s third-largest cryptocurrency by market capitalization. The token was trading at $1,164.33, down 4.7% over 24 hours at time of reporting.
Blue Carpet Program Launches
The Blue Carpet program offers crypto projects several benefits at no cost. Issuers get direct access to Coinbase’s listings team for personalized guidance.
Projects can request updates to their asset pages on both the centralized exchange and retail DEX. The program includes referral discounts for services like MiCA whitepaper support and market-maker matching.
Select team members receive limited Coinbase One subscriptions. Coinbase stressed that all applications and listings remain free with no requirement to purchase additional services.
The exchange clarified that roadmap inclusion doesn’t guarantee an actual listing. Coinbase can delay or decline assets that fail to meet requirements.
Trading will only start once the exchange confirms sufficient market-making support and technical infrastructure. A separate announcement will come when those conditions are met.
Response to Industry Criticism
The BNB announcement comes nine days after Arca CIO Jeff Dorman criticized Coinbase’s listing strategy. Dorman argued the exchange lists “some of the absolute worst assets” while ignoring better options.
He specifically mentioned BNB as a high-performing token that Coinbase had historically avoided. Dorman said exchanges should either list widely with neutrality or carefully curate the best assets.
He praised BNB for its revenue-backed buybacks and strong tokenomics. Dorman contrasted this with what he called inflationary tokens on Coinbase’s platform.
The timing also follows recent disputes over exchange listing practices. Binance denied claims from Limitless Labs CEO CJ Hetherington that it sought token allocations for listings.
Jesse Pollak, head of Coinbase’s Base network, stated that exchange listings “should cost 0%.” Critics then challenged Coinbase to prove this by listing BNB.
BNB Token Background
BNB launched in 2017 as a trading fee discount token. The cryptocurrency now serves as the primary gas asset for BNB Chain transactions.
Users employ BNB across the network for multiple purposes. These include payments, staking, token launches, and governance proposals.
The token functions as both transaction fuel and a utility asset for the entire blockchain. BNB Chain is tied directly to Binance, Coinbase’s largest competitor.
BNB briefly jumped 2% to $1,175 immediately after the Coinbase announcement. The price has since declined to current trading levels.
Coinbase has not provided a timeline for when BNB trading might begin. The exchange will make a separate announcement once all technical and liquidity requirements are satisfied.
