Coinbase Rolls Out DEX Trading, Excludes New York

• Coinbase launches in-app DEX trading for U.S. users, excluding New York residents.

• Integration with 1inch enables secure, non-custodial swaps within the Coinbase app.

• Base-native tokens lead the rollout, bridging centralized and decentralized finance markets.

Coinbase has expanded its on-chain capacity as it has officially launched in-app DEX trading to its U.S. clients, but not New York customers because of regulatory limitations. The new functionality enables users to read and trade about millions of assets in the Coinbase application seconds after their launch. The company seeks to connect the centralized and decentralized finance by providing a smooth and secure point of entry to DeFi via its Base network. On Wednesday, the announcement was made by a company blog post and updates on social media.

Coinbase Integrates 1inch to Power On-Chain Trading

Coinbase writes about the in-app DEX, which allows users to trade tokens prior to their formal introduction to the primary exchange. Initially tested with some of its users in August, the feature has now been extended to all its eligible customers in the U.S. The integration of Coinbase with 1inch offers non-custodial token swaps through the Swap API of the aggregator. With this partnership, users will have access to decentralized sources of liquidity and have the ability to keep their assets in a self-custodial wallet, which is designed into the Coinbase application.

Arguing about the collaboration with 1inch, the head of trading at Coinbase, Scott Shapiro, claimed that it is a significant move towards the increase in on-chain access. He said the integration would assist in taking millions of our users on-chain and make the process of decentralized trading easier through an app environment of trust. The relocation highlights the larger vision by Coinbase to fit in the rapidly expanding decentralized trading industry and build on its Base network ecosystem.

Base-Native Tokens Lead the DEX Debut

The DEX trading will initially have Base-native tokens of projects such as Virtuals AI Agents, Reserve Protocol DTFs, SoSo Value Indices, Auki Labs, and Super Champs. Coinbase termed the release as a method to enable users in exploring and trade emergent commodities in a brief period without jeopardizing transparency and accessibility.

The move also comes at an opportune time when the market is changing its trend with more traders shifting to decentralized platforms. The Q2 2025 report of Coinbase showed that the total trading volume was $237 billion, a minor increase over the Q2 2024 report of 226 billion. At the same time, perpetual DEXs have experienced an all-time high, with total volumes going above 1.2 trillion over the last 30 days, as reported by DeFiLlama. Much of this was ushered in by sites such as the Aster DEX and Hyperliquid, which indicated an increase in demand of decentralized trading options.

The growth of Coinbase into a DEX will leave the exchange in a position to win a portion of that momentum. Coinbase hopes to reduce the barriers to decentralized trading by incorporating DeFi functionality into its application and giving users more rapid and expanded access to the market.