Coinbase Launches DEX Trading in Brazil Amid Expansion

Key Highlights

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  Coinbase introduces DEX trading in Brazil, expanding the feature beyond the U.S.
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  This expansion is driven by increasing cryptocurrency adoption and regulatory clarity in Brazil.
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  A former Coinbase director's leadership role in Nubank's crypto unit signifies regional momentum.

Coinbase is intensifying its global on-chain initiatives. On November 19, CEO Brian Armstrong announced that the company is launching decentralized exchange (DEX) trading within the Coinbase app for users in Brazil. This marks Coinbase's first significant expansion of this feature outside of the United States.

Armstrong noted that U.S. customers have already been utilizing the DEX trading feature and expressed optimism that "onchain trading is getting more and more accessible."

This announcement follows Coinbase's August launch of native DEX trading for select users in the U.S. That rollout provided users with seamless access to millions of on-chain assets by routing trades through decentralized liquidity sources, including Uniswap, Aerodrome, and other DEXs connected to the Base network.

Through this integrated system, users can trade newly issued tokens moments after they become available on Base. They can also fund transactions using USDC or their Coinbase balances, and utilize a built-in self-custody wallet, all without leaving the Coinbase application interface.

Why Brazil Matters

Brazil has emerged as a crucial international market for Coinbase. The country is recognized as one of the leading nations in cryptocurrency adoption globally. Furthermore, Brazil has recently established robust regulatory frameworks, including reporting rules aligned with OECD standards and the forthcoming Drex central bank digital currency.

The introduction of DEX trading in Brazil allows Coinbase to engage with a rapidly expanding user base that is already familiar with on-chain payments, stablecoins, and tokenized assets. This move aligns with a broader trend in Latin America, where fintech companies are increasingly enhancing their cryptocurrency offerings.

Coinbase's significant presence in the region is further underscored by the appointment of Michael Rihani, a former Coinbase director, to lead Nubank's crypto division in September. His transition highlighted the flow of U.S. talent into dynamic Latin American markets and emphasized the region's growing competitiveness in crypto financial services.

Under Rihani's leadership, Nubank has introduced new features, such as Bitcoin bill payments. Coinbase's new DEX offering will now directly compete for the attention of Brazil's increasingly sophisticated retail market.

Future Outlook

Coinbase has plans to expand DEX trading to additional networks beyond Base, with Solana being the next targeted network. The company anticipates a wider international rollout, aiming to establish itself as a global center for on-chain liquidity and self-custody access.

For Brazil, this development reinforces its position as a key battleground for the next phase of global cryptocurrency adoption. In this evolving landscape, exchanges, banks, and fintech companies are actively competing to bring decentralized trading capabilities to the mainstream consumer market.