Coinbase (COIN) Introduces DEX Trading on U.S. App in Effort to Evolve into a Comprehensive ‘Everything App’
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Coinbase (COIN) is rolling out decentralized exchange (DEX) trading within its main app for customers across the U.S., excluding New York State, the company announced on Friday. This initiative is part of its broader ambition to transform the platform into an “everything app” for crypto. The new feature will route trades on-chain through DEX aggregators like 0x and 1inch, drawing liquidity from decentralized markets such as Uniswap and Aerodrome, as explained by Max Branzburg, Coinbase’s vice president of product. By integrating DEX trading, Coinbase will enable users to interact directly with blockchain-based liquidity pools without moving funds off-platform.
At launch, traders can discover and swap an ever-expanding list of Base-native tokens. This collection includes assets from Virtuals AI Agents, Reserve Protocol’s decentralized tokenized funds (DTFs), and SoSo Value’s index tokens, along with contributions from Auki Labs and Super Champs.
DEX trading appeals to many crypto users as it allows for self-custody and permissionless access. Instead of depending on a central exchange for matching and settling orders, transactions occur directly on the blockchain. For traders, this often means access to a broader range of assets, quicker listings for new tokens, and potentially lower fees. It also eliminates the need to trust an intermediary with holding funds, though it carries its own risks, such as exposure to smart contract bugs or volatile, thinly traded markets.
The update reinforces Coinbase’s position as a gateway to both centralized and decentralized crypto markets. It highlights the company's ongoing effort to embed Web3 tools directly into its core platform, aiming to attract users who seek more control over trading and storing digital assets.
This development follows the observed success of decentralized derivatives exchanges that have recently registered significant trading volumes. It provides users a non-custodial trading option, effectively reducing the counterparty risks highlighted by past events in 2022.
Decentralized exchange volume has seen a notable increase throughout the recent bull market; data from DefiLlama indicates that daily volume has reached $12.8 billion, far exceeding Coinbase’s total of $3.5 billion, while monthly DEX volume has surpassed $407 billion.
Correction (Aug 8, 17:20 UTC): An earlier version of this article mistakenly stated that Centrifuge’s assets would be available to trade at launch, which is incorrect.Let me know if you need any further adjustments!
