Coinbase has announced the launch of a decentralized exchange feature within its app for U.S. users, excluding New York.
Launch of Decentralized Exchange Feature
Coinbase has introduced a new decentralized exchange feature, initially available to U.S. users, excluding New York. This feature will allow users to trade a wide range of tokens within the app, starting with Base-native tokens.
User Side and Tokens
The launch includes support for Base-native tokens, with plans to add support for other networks such as Solana in the future. The use of USDC for trading operations highlights a shift in trading methods within the app.
Market Impact
The integration of decentralized trading could significantly influence on-chain liquidity and trading volumes. The increase in liquidity of Base tokens has already led to price surges, such as a 28% increase in the price of Aerodrome Finance's token (AERO).
With the launch of the decentralized exchange, Coinbase aims to improve access to decentralized finance and facilitate user transitions between centralized and decentralized platforms.
