Coinbase to Integrate Base DEXs on its Main App

Coinbase, the largest U.S.-based centralized crypto exchange (CEX), announced a flurry of announcements today, including perpetual swaps, a BTC rewards credit card, and access to assets trading on Ethereum Layer 2 Base, directly on the Coinbase app.

At the State of Crypto Summit, Coinbase’s Chief Legal Officer Paul Grewal said, “millions of assets get created and traded on decentralized exchanges, but only a few people have been able to navigate those decentralized exchanges to access and trade the assets that they want. That’s why today, I’m incredibly excited to share with you that we will be integrating decentralized exchanges from Base, directly into the main Coinbase app.”

“You can now be confident that if it’s onchain, it’s on Coinbase,” Grewal continued.

Aerodrome, the leading DEX on Base, rallied 18% on the news despite the rest of the market’s slow day. The DEX commands over 50% of Base’s volume, accounting for $3.37 billion out of the chain’s $5.07 billion in total volume in the last week.

The initiative will begin with Base, but will expand to other networks and protocols in the future, potentially tapping ecosystems such as Solana and Ethereum next.

Coinbase Perps

In addition to the DEX integration, Coinbase also announced the upcoming launch of perpetual futures in the United States.

The announcement comes less than a month after CFTC commissioned Summer Mersinger said that crypto perpetual futures could come to the U.S. “very soon”. Perpetual futures are a cash-settled trading derivative with no expiration date, which have been subject to regulatory scrutiny under previous administrations.

Lastly, the exchange announced the rollout of its Coinbase One Card, which is an American Express credit card offering up to 4% back paid in Bitcoin.

Despite the announcements, the company’s stock, COIN, is down 3.84% today.