The DEX feature supports trading with Coinbase balances or USDC, with Coinbase covering network gas fees, and is integrated with liquidity pools from 1inch and 0x for secure, non-custodial swaps.

The DEX experience emphasizes security and transparency, with Coinbase integrating onchain data analytics to exclude risky tokens and offering a self-custody wallet for full asset control.

Funding options include Coinbase balances or USDC, and Coinbase covers gas fees, making the process accessible without requiring an ETH balance.

This development broadens DeFi access for millions, increasing regulatory scrutiny on the blurred lines between centralized and decentralized exchanges.

Coinbase's move comes amid declining trading volumes, with Q2 2025 volumes at $237 billion, as part of a strategic effort to boost user activity and market participation.

The rising DEX-to-CEX volume ratio to 0.23 reflects growing trader preference for decentralized, self-custody platforms.

Supported projects include Virtuals AI Agents, Reserve Protocol DTFs, SoSo Value Indices, Auki Labs, and Super Champs, with plans to expand the asset list in the coming weeks.

Industry data shows DEXs now account for approximately 28.5% of spot trading activity, with volumes increasing over 25% in Q2 2025, while CEX trading volumes declined nearly 30%.

Coinbase has launched a new decentralized exchange (DEX) feature within its main app for U.S. users, excluding New York, allowing instant onchain asset trading on the Ethereum layer-2 network, Base.

Initially teased in August 2025, the DEX is now available to all eligible U.S. users as of October 9, 2025, marking Coinbase's full-scale entry into retail on-chain trading.

The platform supports a broad range of assets, including new tokens from projects like Virtuals AI Agents, Reserve Protocol DTFs, and others, with plans to add more assets soon.

Supported tokens are tradable immediately upon launch, with liquidity provided by routes from 1inch and 0x, enabling seamless, non-custodial token swaps.