Coinbase has launched decentralized exchange (DEX) trading inside its main app for most U.S. customers, excluding New York State. This strategic update is part of Coinbase’s broader plan to become an “everything app” for crypto.
The new feature routes trades on-chain via DEX aggregators like 0x and 1inch, tapping liquidity from platforms such as Uniswap and Aerodrome. Users can now swap Base-native tokens from projects like Virtuals AI Agents, Reserve Protocol, SoSo Value, Auki Labs, and Super Champs — without transferring funds off-platform.
Why It Matters
Self-Custody – Traders keep control of their funds while accessing blockchain liquidity pools.
Broader Asset Access – Faster listings and exposure to niche tokens not always available on CEXs.
Lower Counterparty Risk – Removes reliance on centralized exchanges, a key lesson after the FTX collapse in 2022.
Market Context
Daily DEX Volume: $12.8B (vs. Coinbase’s $3.5B)
Monthly DEX Volume: $407B+ (DefiLlama)
Rising Competition: HyperLiquid, a decentralized derivatives exchange, recorded $11B in volume last month.
Coinbase’s move strengthens its position as a gateway to both centralized and decentralized markets, directly embedding Web3 trading tools into its core platform to capture the growing on-chain trader base.
