Coinbase launches DEX trading for U.S. users, excluding New York, expanding Ethereum token access via Base network.
- Coinbase launches DEX trading feature for U.S. users, excluding New York.
- Enhances token access via Ethereum Layer 2 network, Base.
- Base-native assets like AERO see immediate trading boosts.
Coinbase has introduced a decentralized exchange trading feature for U.S. users, excluding New York, directly on its platform, utilizing the Ethereum Layer 2 network, Base.
This marks a pivotal shift towards DeFi for Coinbase, potentially increasing trading volumes and liquidity flows while accommodating U.S. regulations; immediate impacts are noted in Base-native assets.
Coinbase introduces DEX trading for U.S. clients (excluding NY) on its Base network, offering wide token access.
This move broadens decentralized finance reach, impacting Base-native assets like AERO with increased liquidity and trading activity.
Coinbase Launches DEX Access via Base E2 in U.S.
Coinbase has launched a decentralized exchange (DEX) trading feature for U.S. users, except New York. This move gives users access to millions of tokens through its Ethereum Layer 2 framework, Base. Brian Armstrong, CEO of Coinbase, stated, “With DEX trading, Coinbase customers in the U.S. (excluding NY) can now search, trade, and manage millions of tokens seamlessly, directly within the Coinbase app” (Coinbase Official Blog).
The integration signals a shift as Coinbase expands decentralized trading within its centralized platform. Brian Armstrong, Coinbase’s CEO, advocates for this approach. The feature aligns with their Base launch in 2023.
AERO Trades Surge on Base Following Coinbase Launch
Base-native assets like AERO are experiencing trading surges. This launch draws positive sentiment for providing broader DeFi access through a regulated platform. Developer incentives fuel this expanded trading.
The move aims to offset declining spot trading volumes and revenue due to competition. No direct regulatory feedback, though Coinbase remains cautious with New York’s exclusion.
Coinbase Follows Competitors in Expanding DEX Offerings
Coinbase’s move follows similar strategies by Robinhood and Kraken when expanding features amidst trading volume declines. Such integrations typically lead to short-term spikes in user activity.
Previous Base network rollouts reduced transaction costs, enhancing DeFi protocol access. Based on past trends, further liquidity increases and staking upticks appear likely.
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