Coinbase (COIN) Adds DEX Trading to U.S. App in Push Toward Becoming an ‘Everything App’

Coinbase (COIN) is rolling out decentralized trade (DEX) buying and selling inside its principal app for purchasers throughout the U.S., apart from New York State, the corporate mentioned Friday. The transfer is a part of its broader ambition to flip the platform into an “everything app” for crypto.

The new characteristic will route trades on-chain via DEX aggregators comparable to 0x and 1inch, pulling liquidity from decentralized markets together with Uniswap and Aerodrome, mentioned Max Branzburg, Coinbase’s vp of product. By integrating DEX buying and selling, Coinbase is giving customers the flexibility to work together instantly with blockchain-based liquidity swimming pools with out transferring funds off-platform.

At launch, merchants shall be in a position to uncover and swap an increasing record of Base-native tokens. That roster consists of property from Virtuals AI Agents, Reserve Protocol’s decentralized tokenized funds (DTFs), SoSo Value’s index tokens, in addition to Auki Labs and Super Champs.

DEX buying and selling appeals to some crypto customers as a result of it permits for self-custody and permissionless entry. Instead of counting on a central trade to match and settle orders, transactions are executed on the blockchain itself. For merchants, this may imply entry to a wider vary of property, quicker listings for brand new tokens and, in some circumstances, decrease charges. It additionally removes the necessity to belief an middleman with holding funds — although it comes with its personal dangers, like publicity to good contract bugs or unstable, thinly traded markets.

The replace strengthens Coinbase’s place as a gateway to each centralized and decentralized crypto markets. It additionally underscores the corporate’s continued push to embed Web3 instruments instantly into its core platform, positioning it to seize customers who need extra management over how they commerce and retailer digital property.

The transfer follows the relative success of platforms like HyperLiquid, a decentralized derivatives trade that has notched $11 billion in quantity over the previous month. It additionally offers customers a non-custodial choice to commerce, primarily eradicating counterparty danger that got here to the highlight after FTX’s momentous implosion in 2022.

Decentralized trade quantity has launched into a notable uptrend all through the current bull market, knowledge from DefiLlama reveals that every day quantity is at $12.8 billion, dwarfing Coinbase’s whole of $3.5 billion, whereas month-to-month DEX quantity has surpassed $407 billion.

Correction (Aug 8, 17:20 UTC): An earlier model of this text said that Centrifuge’s property shall be out there to commerce at launch, which was incorrect.