BNB On Coinbase : A Turning Point In Crypto Rivalry

Coinbase is preparing to list BNB, the flagship token of its historic rival Binance. Such an unexpected gesture contrasts with past tensions between the two giants. In a climate of enhanced regulation and strategic repositioning, this decision could mark a turning point in the power dynamics of the sector. Calculated opportunism or signal of appeasement? This rapprochement intrigues as much as it raises questions.

Coinbase extends a hand to BNB despite rivalry

While BNB reaches a new ATH despite a historic crypto crash, Coinbase officially added the BNB token to its listing roadmap on October 15, marking a historic first between two giants who oppose each other in every way.

In an announcement relayed on X (formerly Twitter), Coinbase’s official account published : “new asset added to the roadmap today: BNB (BNB)”.

Assets added to the roadmap today: BNB (BNB)https://t.co/lyEugQo7Cv

— Coinbase Markets 🛡️ (@CoinbaseMarkets) October 15, 2025

This addition comes as BNB has become the fourth largest crypto asset by market capitalization, valued at about 164 billion dollars. Although the asset has no utility within the Coinbase ecosystem, its presence on the roadmap is seen as an implicit recognition of its economic weight, despite its competing origin.

Coinbase specifies, however, that the BNB listing will only be effective if certain technical and liquidity conditions are met. The exchange mentions a deployment “subject to the support of market makers and the existence of sufficient technical infrastructure”, suggesting some caution. Here are the key points to remember at this stage :

• BNB is officially added to Coinbase’s roadmap, but is not yet actively traded ;

• The listing depends on liquidity support (market-making) and suitable technical framework ;

• BNB recently reached a historic high around $1,370, after doubling over the year (+98%) ;

• The asset remains difficult to access for American investors, which could justify Coinbase’s strategic opening ;

• Kraken had already listed BNB last April, setting a precedent in the US space: “stronger together,” had then commented the exchange.

In short, even if the announcement remains cautious and conditional, Coinbase crosses a symbolic threshold by considering the integration of an asset closely associated with its main rival.

A strategic turnaround amid regulatory realignment

If this opening to BNB surprises, it is because it strongly contrasts with Coinbase’s past position vis-à-vis Binance. In February 2023, Coinbase announced the delisting of BUSD, the stablecoin co-branded by Binance and issued by Paxos.

At the time, the American exchange justified its decision by stating : “our decision to suspend BUSD trading is based on our own internal monitoring and assessment processes”, adding that the stablecoin “no longer met [its] listing standards”.

This measure occurred in a context of strong regulatory pressure on Binance-affiliated products, which the SEC then considered potentially non-compliant.

Since then, the landscape has changed. Binance signed a $4.3 billion agreement with American authorities to end several criminal prosecutions, while the SEC dropped some charges in June, notably concerning the origin of BNB.

In this context of relative easing, Coinbase’s decision could also be interpreted as a strategic repositioning regarding an asset that continues to dominate trading despite controversies. However, the statement by Base’s creator Jesse Pollak, who said “being listed on an exchange should cost nothing”, as well as Coinbase Ventures’ support for Limitless Labs, whose CEO criticized Binance for its listing practices, show that the debate on the ethics of listings is far from over.

It should cost 0% to be listed on an exchange. https://t.co/KBt1o74Bs9

— jesse.base.eth (@jessepollak) October 14, 2025

This opening by Coinbase could have notable consequences for the market. If BNB becomes more accessible to American investors, it could strengthen its liquidity and potentially stabilize its price, which remains subject to strong fluctuations. But it could also fuel tensions between platforms, especially if Binance perceives this initiative as an attempt to capture its native flows. The timing is all the more strategic as BNB, despite its recent peak at $1,370, suffered corrections, notably due to scandals related to the Black Friday crash and criticisms of its governance.