Coinbase takes another big step as an all-in-one center for crypto. The company has added decentralized exchanges (DEX) directly in its main application, allowing most American customers to negotiate themselves in chain without leaving the platform. New York users are excluded for the moment. The functionality is launching with database tokens and could massively extend the number of negotiable assets for Coinbase users.
Coinbase allows live trade on the blockchain
Coinbase announced on Friday that it adds decentralized exchanges (DEX) to its main application, giving users access to a much wider range of cryptocurrencies.
The functionality first deploys American customers, with the exception of those in New York, and could extend the offers of Coinbase from around 300 tokens to potentially millions once the assets are indexed to the chain.
Instead of sending assets to an outdoor platform, Coinbase users can now place transactions that go directly to the blockchain-based liquidity pools. Orders will be sent by dex aggregators like 0x and 1 inch, by pressing decentralized markets such as Uniswap and aerodrome.
This means that traders can exchange a growing list of basic native tokens, including projects such as AI virtual agents, reserve protocol, centrifuge, SOSO value, Auki laboratories and super champions. More tokens will be added in stages, in order to possibly cover the entire basic network.
Dex Trading offers advantages that many Crypto users recognize: faster lists for new tokens, self-care of funds and potentially lower costs. Coinbase will even sponsor network costs for the moment, simplifying transactions for those who do not know the chain gas costs.
Users can finance transactions directly from their Coinbase balance and monitor wallet performance inside the application.
Coinbase takes a big web3 push3
Coinbase considers this decision to be part of its plan to become an “all application” for the crypto, the one that takes care of the centralized and decentralized markets. By integrating Dex Trading, it is attractive for users who want more control and less intermediaries after events such as the collapse of the FTX highlighted the risks of centralized guard.
Although Coinbase provides risk and market data in real time, it will examine or approve the tokens listed on external DEX. Instead, it will rely on third -party suppliers to report potentially malicious assets and restrict access accordingly.
The launch could also benefit the creators of tokens, who will now reach the basis of user of Coinbase almost instantly after being indexed on the chain, bypassing the long waiting of the centralized lists. Future updates will widen Dex Trading to other block channels, such as Solana, and more global markets.
Coinbase makes this step because the Dex activity is booming. Defillama’s data shows a daily decentralized exchange volume reaching $ 12.8 billion, well above $ 3.5 billion in centralized Coinbase negotiation, the monthly Dex Totals exceeding $ 400 billion. By adding Dex access to its application, Coinbase is preparing to further capture this growing market.
