Coinbase has announced a major update to its platform, integrating decentralized exchange (DEX) trading directly into its main app via its Base network. This new feature, which is currently available to select U.S. customers (excluding New York State), allows users to trade millions of tokens, a significant expansion from the approximately 300 assets currently listed on the exchange.

The integration combines the extensive variety and speed of decentralized finance (DeFi) with the user-friendly interface of a centralized exchange. This gives users the ability to trade new Base-native assets shortly after their launch.

Key Details of the New Feature

  • Access and Usability: Coinbase simplifies the complexities of DEX trading. The new feature includes a built-in self-custody wallet and covers all network fees. Users can fund transactions directly from their Coinbase balance or with USDC.

  • Trading Mechanics: Trades are routed through major protocols like Aerodrome and Uniswap, with aggregators working to secure the best available pricing.

  • Initial Launch and Expansion: At launch, users can trade tokens from projects like Virtuals and Super Champs. Coinbase plans to index more Base assets daily and aims to expand this functionality to other networks, such as Solana, in the near future. The company also plans to eventually extend DEX access beyond the U.S.

  • Transparency and Safety: While Coinbase will not review or list these DEX assets, it will block any tokens flagged as fraudulent or malicious by third-party vendors. The platform will also provide on-chain data to give traders more transparency.

This move is a major step for Coinbase, allowing it to tap into the booming on-chain economy. According to data from DefiLlama, the Base network saw its monthly spot volume surpass $41 billion in July, making it the fourth-largest DEX by volume.

Jesse Pollak, the creator of the Base network, said the move “puts Base builders on a level playing field,” giving token issuers the ability to reach millions of traders through the new interface within about an hour of their token being indexed.

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