Coinbase Global’s recent decision to fold decentralized exchange (DEX) trading into its core application marks a major shift in the company’s approach. This expansion nearly doubles the amount of asset users have access to. Though the rollout starts with a limited number of users in the United States, New York State is not included. To put its aim in perspective, this would give access to over 512 billion more tokens. Customers are able to fund trades directly from their Coinbase balance or with USDC/USD.
This milestone is a fundamental change for Coinbase Global. The scale of the platform shifts from hundreds of dollars in value 300 assets, to millions of dollars over millions of trades. In addition, users can easily track how well their whole portfolio is doing right inside the app.
Coinbase Global intends to eventually add support for other blockchain networks into the DEX trading feature. Solana is one of the blockchain networks that are expected to be added in the coming weeks. This change will further expand the types of assets available to Coinbase users.
By adding DEX trading to the Coinbase app, users benefit from a more complete trading experience. Now, Coinbase Global includes both centralized and decentralized finance alternatives. This implementation strategy is designed to provide for a broader array of retail/post-retail user needs and investor approaches. The ability to fund trades directly with existing Coinbase balances or USDC/USD makes it incredibly easy to get started and get trading. This democratizes access to the platform for both highly experienced and brand-new traders.
The first rollout will be carefully observed to provide the best experience for users. Through this beta period Coinbase Global plans to solicit feedback from early adopters to hone the feature further before a broader rollout. The absence of New York State in the first phase is probably a regulatory consideration.
Focusing on DEX trading puts Coinbase Global in line with the industry as it evolves towards hybrid models that divide functions of exchanges and custodians. Animation courtesy Blockchain.com The company welcomes the maturation of decentralized finance. This illustrates its dedication to providing users access to more advanced financial tools and opportunities. The inclusion of Solana and other blockchain networks will further solidify Coinbase's position as a leading platform in the digital asset space.
