Cryptocurrency exchange Coinbase has officially launched decentralized exchange (DEX) trading directly within its mobile app for most U.S. users, marking a significant step in the platform’s move to blend centralized and decentralized finance (DeFi). The new feature allows customers to access millions of on-chain assets, often moments after they launch.
The full rollout was confirmed in a company announcement on Wednesday, granting users across the United States (excluding New York) the ability to execute non-custodial token swaps directly through an integrated self-custodial wallet.
“Explore millions of assets, moments after they launch, right from the Coinbase app,” the company stated on X.
The initial launch is centered on Base-native tokens, leveraging Coinbase’s own Ethereum Layer 2 network. This includes assets from emerging projects such as Virtuals AI Agents, Reserve Protocol DTFs, SoSo Value Indices, Auki Labs, and Super Champs.
The seamless trading is enabled through a recent integration of the 1inch Swap API, marking the DEX aggregator’s most significant U.S. client to date. This partnership provides users with access to deep liquidity and competitive rates, while Coinbase covers all network (gas) fees on the trades.
Scott Shapiro, Coinbase’s Head of Trading, previously called the 1inch integration “a significant step forward in bringing onchain trading to our users,” emphasizing its role in lowering barriers to DeFi.
The move is seen as a strategic response to evolving market dynamics. While Coinbase remains a leading centralized exchange, the company reported $237 billion in trading volume in the second quarter of 2025, only a slight uptick from $226 billion a year prior. Integrating DEX trading positions Coinbase to capture activity in the rapidly growing decentralized sector.
Notably, the perpetual decentralized exchange (perp DEX) sector recently crossed the $1 trillion mark in 30-day trading volume for the first time, signaling an accelerating shift of derivatives traders from centralized to decentralized platforms that offer self-custody and greater transparency.
The DEX trading feature was first introduced to a select group of users in August before its public launch this week. New York residents remain excluded from the service, likely due to the state’s stringent cryptocurrency regulations.
