Coinbase, one of the leading cryptocurrency exchanges, has announced that it plans to list BNB, the native token of Binance’s ecosystem on its platform.
The exchange confirmed that trading will begin once market-making support and the necessary technical infrastructure are in place. This marks the first time Coinbase has officially shown support for BNB, the flagship token of a rival crypto exchange platform.
The listing comes after Coinbase Advanced introduced BNB perpetual futures on April 3. These contracts allow traders to hold positions indefinitely, offering opportunities to amplify gains or losses with borrowed funds.
The expansion of Coinbase derivatives products and the establishment of the exchange as a rival to Binance, which already provides BNB futures, is the result of the move.
CZ reacted to industry discussions about BNB’s potential Coinbase listing, saying, “Listing a 3rd largest market cap crypto should be a no-brainer” He added that “Not listing it is a loss for the exchange themselves.”
BNB’s market reaction and future listings
At the time of writing, BNB was trading around $1,186, down 0.73% in the last 24 hours and more than 8..57% over the past week. Despite this, the token has gained 27.8% over the last month, according to CoinMarketCap.
Coinbase also plans to list other digital assets soon, including Bitcoin Hyper, Maxi Doge, PEPENODE, and Snorter Bot. According to Barron’s research, new listings on Coinbase often see an average 91% gain in the first five days.
Binance listing fees controversy
The new BNB listing comes amid debates over Binance’s listing practices. CJ Hetherington, CEO of Limitless Labs, claimed that Binance charges fees and requires deposits for token listings. Binance denied these claims, calling them false and discriminatory.
The exchange stated that any deposits are typically refundable and does not charge listing fees. However, former BitMEX Co-Founder Arthur Hayes suggested that listings could effectively cost projects around 16% of a token’s supply, including airdrops and BNB purchases.
Coinbase’s BNB initiative reflects the growing interest in cross-platform trading of major tokens and derivatives, offering traders more ways to access and leverage popular digital assets.
Also Read: Hong Kong’s CMB Tokenizes $3.8B Money Market Fund on BNB Chain
