- Coinbase integrates decentralized exchange for U.S. app users.
- Excludes New York customers initially.
- Includes Base-native and future support for Solana.
Coinbase has integrated a decentralized exchange feature within its app, initially available to US users, excluding New York, focusing on Base-native tokens for in-app decentralized trading.
This integration enhances access to decentralized finance, streamlining trading for millions of assets and impacting market dynamics with an immediate surge in Base token liquidity and trading volumes.
Coinbase launches a decentralized exchange feature within its app for direct trading, available to U.S. users starting with Base-native tokens. This move aims to combine the benefits of centralized and decentralized exchanges.
Background
Coinbase, led by CEO Brian Armstrong, introduces this feature as part of its strategy to be the “everything exchange.” The integration excludes New York due to regulatory constraints and begins with Base tokens.
“Coinbase is rolling out DEX trading for millions of on-chain assets, starting with Base-native tokens, to expand access to DeFi and give users seamless, simple, and secure on-chain trading.” – Coinbase Announcement
The launch caused Aerodrome Finance’s token (AERO) to jump by approximately 28%, signaling increased market activity. Bringing decentralized trading into the Coinbase app may significantly boost on-chain liquidity.
Inclusion of future network support, such as Solana, may expand market influence. The use of USDC for trades highlights a potential shift in trading methods within the app, aligning with decentralized finance trends.
Possible technological advancements from this integration may affect other exchanges and token prices. Coinbase users could experience easier transitions between CeFi and DeFi, influencing overall market accessibility and transparency.
