Binance Lists HYPE Token as CZ Welcomes DEX Competition

Binance added the HYPE token to its spot trading platform on September 24, 2026, introducing pairs for HYPE/USDT, HYPE/USDC, and HYPE/TRY. Deposits were enabled one hour before trading began, with withdrawals following the next day. Notably, the exchange waived all listing fees for the token.

The move follows public comments from Binance founder Changpeng Zhao, who recently described the rise of decentralized exchanges like Hyperliquid as a positive development for the crypto industry. Speaking on September 26, 2026, Zhao argued that increased competition is a sign of industry maturity rather than a threat to centralized platforms.

Zhao pointed to global crypto ownership rates, which he estimated between 5% and 15%, while noting that digital assets account for less than 1% of the average person's net worth. He suggested that early market leaders do not always maintain their dominance, citing Google and Binance as examples of companies that were not the first to enter their respective sectors.

Hyperliquid functions as a permissionless on-chain perpetual DEX built on its own Layer-1 blockchain. The HYPE token acts as the network's native currency, providing both utility and governance functions for the protocol.

The decision to waive listing fees for HYPE marks a departure from Binance's historical practice of using such fees as a revenue source and quality filter. By listing the asset, Binance provides traders with access to the token without the need to bridge assets or manage separate wallets, potentially expanding the project's addressable market.

Zhao previously expressed appreciation for the Hyperliquid model in June 2026, though he noted that regulatory constraints can complicate direct competition between centralized and decentralized exchanges in certain regions. The inclusion of the Turkish lira as a trading pair suggests a continued focus on emerging markets to reduce friction for retail traders.