Coinbase launches DEX trading for US users amid volume decline

Cryptocurrency exchange Coinbase said on Friday it is launching a DEX integration in order to give traders the ability to buy and sell “millions” of digital assets previously unavailable to users.

The move comes on the heels of Coinbase reporting a decline in spot trading volumes and revenue for the second quarter. The company also recently said it planned to position itself as an “everything exchange” that will include trading of tokenized stocks, prediction markets, and access to early-stage token sales.

“With our decentralized exchange (DEX) trading integration, new assets become available to trade within moments of creation,” the company said in a statement. “Coinbase is now unlocking a new era of access, going from just 300 assets yesterday to millions before long.”

Coinbase will initially roll out the service in the U.S., excluding New York State, using its Ethereum Layer 2 Base, although it said it plans to add more more markets and networks, starting with Solana, over time. Users will be able to trade on DEXes such as Aerodrome and Uniswap without having to leave the Coinbase app, the company also said.

Although Coinbase shares are up over 20% on the year, according to The Block’s price page, they have declined from over $400 per share in July to about $304 a share as of Friday.

Competitors like Kraken and Robinhood, which often offer more options and less-expensive trading, may be helping to erode Coinbase’s market position, specifically in the U.S.

The new initiative will make it possible for users to trade Base-native tokens for projects like “Virtuals AI Agents, Reserve Protocol DTFs, SoSo Value Indices, Auki Labs and Super Champs,” Coinbase said.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 

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