Coinbase DEX Goes Live Across U.S. Mobile App Letting Users Trade Millions of Tokens Except New York

Coinbase Launches In-App Decentralized Trading With Millions of Tokens Available

Coinbase has opened a new chapter in U.S. crypto trading by rolling out decentralized exchange (DEX) functionality directly within its mobile app, allowing users to trade tokens instantly after launch.

The expansion, however, excludes New York residents, who remain outside the initial rollout.

How Does the New DEX Work

The feature, which began limited testing in August, enables users to trade Base-native tokens and newly created onchain assets without waiting for formal listings.

Coinbase said,

“Millions of assets can be explored and traded immediately after launch.”

This highlights the app’s expanded scope from roughly 300 listed assets to potentially millions of tokens available on the Base Layer 2 blockchain.

Early projects supported include Virtuals AI Agents, Reserve Protocol DTFs, SoSo Value Indices, Auki Labs, and Super Champs.

Coinbase plans to continue adding Base tokens in batches, ensuring fresh assets appear for users within moments of creation.

Integration With 1inch and 0x Enables Non-Custodial Trading

To provide direct onchain access, Coinbase has integrated liquidity from DEX aggregators 1inch and 0x, enabling seamless non-custodial swaps.

Scott Shapiro, head of trading at Coinbase, said,

“Together we’re enabling seamless access to DEXes within the Coinbase app, which will bring millions of our users onchain.”

Users can trade with Coinbase balances or USDC, while network fees are sponsored by Coinbase, removing barriers typically associated with gas tokens.

Why Coinbase Moves Into DeFi Now

The launch comes as Coinbase faces declining trading volumes, reporting $237 billion in Q2 2025, up slightly from $226 billion a year prior.

By integrating DEX access, the platform bridges the convenience of centralized exchanges with the transparency and control of decentralized finance.

Onchain analytics and third-party token verification add security by filtering out potentially fraudulent assets, giving users a safer trading environment uncommon in typical DEX settings.

Perpetual DEXs Hit $1.2 Trillion While Traders Shift From Centralized Platforms

Decentralized perpetual exchanges (perp DEXs) have reached a record $1.226 trillion in trading volume over the past 30 days, according to DeFiLlama, representing a 48% jump from August’s $707.6 billion.

Aster DEX led the surge with $493.6 billion, followed by Hyperliquid at over $280 billion.

Newcomers such as SunPerp and Lighter DEX are also gaining traction, reflecting a broader market shift toward self-custody and 24/7 global access.

New York Residents Can Finally Stake Crypto

While DEX access is restricted, Coinbase has won approval from New York regulators to offer staking services in the state, marking a significant breakthrough after a year of legal disputes over whether staking constitutes a security.

New Yorkers can now stake Ether, Solana, and other digital assets directly on the platform.

Coinbase said,

“New York’s approval is another proof point that stifling innovation and depriving residents of financial opportunities is bad policy. We applaud New York, and hope to see this momentum continue across the U.S. Staking as a service, like that offered by Coinbase, is not a security.”

The company estimates residents in states with previous bans, including California, New Jersey, Maryland, and Wisconsin, collectively missed more than $130 million in staking rewards.

What’s Next for Coinbase

Looking ahead, Coinbase plans to expand DEX support to additional networks such as Solana and intends to bring the feature to international markets.

CEO Brian Armstrong has described the broader vision as a crypto “super app,” blending investing, payments, and onchain identity tools to challenge traditional banking structures.

By merging DEX trading with staking and onchain liquidity, Coinbase positions itself as a gateway for users seeking both centralized convenience and the flexibility of decentralized finance.