TLDR
- Coinbase launched “The Blue Carpet,” a new program offering asset issuers direct access to its listings team, page customization options, referral discounts, and Coinbase One seats at no cost.
- BNB, the native token of rival exchange Binance, was added to Coinbase’s listing roadmap 33 minutes after The Blue Carpet announcement on Wednesday.
- The roadmap addition is not a listing guarantee and trading will only begin after Coinbase confirms sufficient market-making support and technical infrastructure are ready.
- The move follows public criticism from Arca CIO Jeff Dorman, who argued Coinbase ignored high-performing tokens like BNB while listing lower-quality assets.
- BNB is the third-largest cryptocurrency by market cap and serves as the gas token for BNB Chain, used for payments, staking, and governance.
Coinbase announced on Wednesday it has added BNB to its official listing roadmap. The decision marks the first time the exchange has signaled support for its biggest competitor’s flagship token.
Assets added to the roadmap today: BNB (BNB)https://t.co/lyEugQo7Cv
— Coinbase Markets 🛡️ (@CoinbaseMarkets) October 15, 2025
The Coinbase Markets account posted the news at 4:45 p.m. UTC on October 15. The announcement came 33 minutes after Coinbase unveiled The Blue Carpet, a new program designed to streamline the asset listing process for crypto projects.
BNB is the native token of the Binance ecosystem and currently ranks as the world’s third-largest cryptocurrency by market capitalization. The token was trading at $1,164.33 at time of reporting, down 4.7% over 24 hours.
The timing of the announcement follows recent industry disputes over exchange listing practices. Days earlier, Binance had denied claims from Limitless Labs CEO CJ Hetherington that it sought token allocations in exchange for listings. Hetherington’s firm receives backing from Coinbase Ventures.
Jesse Pollak, head of Coinbase’s Base network, responded to the controversy by stating that exchange listings “should cost 0%.” Critics then challenged Coinbase to demonstrate this principle by listing BNB.
Roadmap Addition Not a Guarantee
Coinbase clarified that roadmap inclusion does not ensure an actual listing. The exchange can delay or decline assets if they fail to meet liquidity, technical, or compliance requirements.
Trading will only begin once Coinbase confirms sufficient market-making support and infrastructure are in place. The exchange said it will announce the trading launch separately if those conditions are met.
The Blue Carpet program offers several benefits to asset issuers. Projects get direct access to Coinbase’s listings team for guidance and can request updates to their asset pages across 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 also receive limited Coinbase One subscriptions.
Coinbase emphasized that all applications and listings remain free. Issuers are not required to purchase any ancillary services to be considered for listing.
Response to Public Criticism
The BNB roadmap addition comes nine days after Arca CIO Jeff Dorman published criticism of Coinbase’s listing strategy. Dorman argued the exchange lists “some of the absolute worst assets” while ignoring better-performing tokens.
He specifically cited BNB as an example of a high-performing token that Coinbase had historically not offered. Dorman said exchanges should either list widely with neutrality or curate only the best assets like a broker.
He contrasted BNB with what he called inflationary tokens, praising its revenue-backed buybacks and tokenomics. Dorman faulted Coinbase for falling between listing models without committing to either approach.
BNB originally launched in 2017 as a trading fee discount token. The token now functions as the primary gas asset for BNB Chain transactions.
Users employ BNB across the network for payments, staking, token launches, and governance proposals. The token serves as both transaction fuel and a utility asset for the entire chain.
BNB briefly jumped 2% to $1,175 immediately after Coinbase’s announcement before declining to current levels.
