- Coinbase will add decentralized exchange (DEX) trading to its app for U.S. users, except those in New York.
- The update makes digital tokens, previously only offered on decentralized platforms, available directly in the Coinbase mobile app.
- Coinbase says it wants to give users quicker access to new coins, often launched on its Base Network.
- The company completed six acquisitions this year, including an agreement to acquire options exchange Deribit for $2.9 billion.
- Coinbase stock traded around $304 per share on Friday, marking a 2% daily drop and a 38% decrease since its all-time high last month.
Coinbase announced that, starting Friday, it will roll out decentralized exchange (DEX) trading for U.S. customers on its mobile app, excluding users in New York. The move brings new digital tokens, which were previously only available on decentralized exchanges, directly to the Coinbase app.
The company says this change will allow users quicker access to a wider range of digital assets. Many of these coins are launched on Base, Coinbase‘s own Ethereum scaling network. The new app feature means users will not have to wait for a traditional asset listing to access new tokens.
In a statement, Coinbase said, “Every day, more tokens are launched on Base than anywhere else. Coinbase isn’t just building for traders to access them—we’re also empowering the builders creating them.” The company explained that DEX trading allows users to buy and sell crypto assets directly on-chain, without the identity checks standard on centralized platforms.
CEO Brian Armstrong said on X that this rollout is part of Coinbase‘s goal to become an “everything exchange,” and that support for Solana assets will be added soon. The company, which went public in 2021, is also working to gain approval from the SEC to offer tokenized equities.
This year, Coinbase has made six acquisitions to expand its crypto services. In May, it announced a $2.9 billion deal to acquire the options exchange Deribit.
Shares of Coinbase (NASDAQ: COIN) traded near $304 on Friday, down 2% for the day and about 5% this week. The stock has fallen roughly 38% since reaching an all-time high of $420 last month.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Presearch 3.0 Launch, New Partnerships, Node Beta Testers Needed
- ICP Empowers Users With Full Control Over Their Data Online
- S&P Global Gives Sky DeFi Protocol B- ‘Junk’ Credit Rating
- BBVA Provides Off-Exchange Custody for Binance Crypto Assets
- Bitcoin Soars as Fed Rate Cut Bets Rise, Crypto Rebounds to $4 Trillion
