Cryptocurrency exchange Coinbase will be providing access to millions of assets typically offered by DEX trading platforms such as Uniswap, Pancake Swap, dYdX, and others, as per an announcement by the company on Friday. The new feature will be available to select customers in the U.S. New York State is excluded from the rollout.
“We’re starting the rollout of DEX trading in the U.S. (excluding NY). Our goal is to make Coinbase the simplest way to access onchain markets. You’ll be able to trade millions of @base assets in the Coinbase app. Support for @solana is coming soon too,” said CEO Brian Armstrong on X.
Coinbase clarifies its approach towards fraudulent DEX assets
The update means that Coinbase users in the U.S. will be able to trade assets from a much larger portion of the crypto market, including newly created tokens and meme coins. These investments can be risky and have been the subject of controversy due to scams, rug pulls, and other mishaps.
The cryptocurrency exchange has clarified that it will not be listing cryptocurrencies that have been identified by a third-party vendor to be malicious or fraudulent. But the official announcement also states that the crypto exchange will not be holding or reviewing the assets on DEXs.
Source: Google Finance
This update comes three days after the crypto exchange said that it was looking to raise $2 billion through senior convertible notes.