Coinbase officially rolled out decentralized exchange trading within its app for U.S. users on Wednesday, excluding New York residents. The feature allows traders to access tokens before they receive consideration for traditional exchange listings.
The platform initially teased the DEX functionality in August when select users gained access. Integration with liquidity pools supported by 1inch and 0x enables secure, non-custodial token swaps executed directly on-chain.
Users can now explore millions of assets moments after they launch through the Coinbase app. The exchange announced the feature's availability on X, highlighting the expansion of trading options for American customers outside New York.
At launch, traders can access Base-native tokens from several projects. Available assets include tokens from Virtuals AI Agents, Reserve Protocol DTFs, SoSo Value Indices, Auki Labs, and Super Champs, according to the company's blog post.
The DEX integration arrives following declining trading volumes in Coinbase's second-quarter results. However, the exchange processed $237 billion in trading volume during the quarter, compared to $226 billion in the same 2024 period.
By offering DEX functionality, Coinbase positions itself to capture trading activity in newly launched tokens that haven't yet met listing requirements. This addresses a competitive gap where users previously needed separate platforms for accessing early-stage cryptocurrency projects.
The Base network focus reflects Coinbase's strategic emphasis on its layer-2 solution. Limiting initial DEX trading to Base-native assets helps drive activity to the company's proprietary blockchain infrastructure while testing market demand for expanded trading options.