In Strategic Shift, Coinbase Rolls Out DEX Trading for U.S. Users

Coinbase Integrates On-Chain DEX Trading Across U.S. App, Expanding DeFi Access

Coinbase (COIN) has officially enabled decentralized exchange (DEX) trading within its main mobile app for users across the U.S., with the exception of New York State, the company announced Friday. The feature represents a key step in Coinbase’s ongoing transformation into a full-service crypto “everything app.”

Trades will be routed on-chain using top DEX aggregators like 0x and 1inch, allowing users to access liquidity from decentralized markets such as Uniswap and Aerodrome. According to Max Branzburg, Coinbase’s VP of Product, the integration allows users to interact with decentralized finance (DeFi) markets directly, without withdrawing assets from the Coinbase platform.

At launch, Coinbase users can discover and swap a growing range of Base-native tokens, including assets tied to Virtuals AI Agents, Reserve Protocol’s tokenized funds (DTFs), SoSo Value indexes, Auki Labs, and Super Champs.

This move appeals to DeFi-savvy users seeking greater self-custody, transparency, and broader asset access. Unlike centralized exchanges, DEXs execute transactions directly on-chain, removing intermediaries and enabling permissionless trading—though this also introduces risks such as smart contract exploits and liquidity fragmentation.

The update strengthens Coinbase’s positioning at the intersection of centralized and decentralized finance. By embedding DEX tools directly into its platform, Coinbase aims to offer users more flexibility while keeping them within its ecosystem.

The launch follows growing adoption of decentralized trading platforms like HyperLiquid, which has processed over $11 billion in trading volume in the past month. It also arrives at a time when non-custodial solutions are gaining favor, particularly in the wake of major centralized exchange collapses such as FTX in 2022.

According to data from DefiLlama, decentralized exchanges are gaining significant traction during the current bull cycle, with daily DEX volumes reaching $12.8 billion—well above Coinbase’s $3.5 billion. Monthly DEX volumes have now surpassed $407 billion, underlining the momentum behind on-chain trading.