Coinbase Launches Solana DEX Trading with USDC Support
- Coinbase has introduced native support for DEX trading of Solana tokens, allowing users to swap SOL-based tokens directly within the app.
- Users can now settle trades using USDC, alongside traditional funding methods like bank accounts and debit cards.
- This launch fulfills Coinbase’s commitment made in August to expand DEX support to include Solana, ahead of schedule.
- The addition of Solana DEX trading comes amid declining spot trading volumes for Coinbase, as competitors like Robinhood and Kraken gain market share.
- Solana community member Vibhu noted that this new feature reduces the need for the Base-Solana bridge, which was intended to enhance liquidity for SOL tokens.
Coinbase’s decision to enable decentralized trading reflects a growing demand for self-custody and on-chain execution among users. The exchange aims to broaden its offerings by gradually listing more DEX-supported tokens.
With this update, users can trade any Solana token directly on Coinbase, significantly enhancing access and liquidity compared to previous options available through the Base network. (Source)
