Coinbase just announced in-app DEX trading, a long-awaited feature to make decentralized trading accessible. The Base blockchain will manage this service for now, prompting several of its tokens to appreciate in value.
Due to BitLicense requirements, this rollout only impacts US users outside New York State. Traders can now access decentralized markets with significantly fewer costs and barriers to entry.
Coinbase’s DEX Features
Coinbase, one of the world’s largest crypto exchanges, has been exploring increased DEX integration for several months now. At its Crypto Summit 2025 in June, the platform teased these upcoming features in the coming months.
Today, CEO Brian Armstrong announced that this new feature is finally here:
The Base blockchain will power Coinbase’s new DEX functionality, but Solana integration is coming. This feature will streamline DEX accessibility for most of the US consumer base, enabling traders to trade tokens using an integrated self-custody wallet.
Coinbase will even cover the necessary network fees, making the process much easier.
Still, this DEX integration is blocked in New York, thanks to regulations that have repeatedly impacted Coinbase. Local residents are not happy about this setback, but it can’t be helped at the moment.
Market And Community Impact
For the most part, the community has shown significant approval. Aerodome Finance, the largest DEX on Base, surged in value after Coinbase’s announcement. Several other Base tokens saw notable gains as well.
Aerodome Finance Price Performance. Source: CoinGecko
However, this rollout isn’t perfect. For one thing, users have criticized Coinbase for permitting DEX trading of tokens it will not list directly. Coinbase’s CEX users still can’t trade VIRTUALS, but this new function will permit tokens created using this protocol.
Additionally, this update runs contrary to the entire ethos of decentralization. Coinbase isn’t really building a DEX; everything from the user interface to the underlying blockchain is deeply centralized. This integration could contribute to growing fears of “de-decentralization” in crypto, as institutional players take over increasing market space.
Nonetheless, this is a major milestone for Coinbase and US traders. Ease of accessibility has been a major issue for people who want to trade on DEXs. Its complexity, connecting wallets and several steps just to buy and trade coins, is a massive headache. But now it’s through one platform, the Coinbase app.