Cryptocurrency exchange OKX, long known for its centralized trading services, has introduced a new feature allowing US users to trade directly on decentralized exchanges. The DEX option is integrated into the OKX app, enabling users to buy and sell tokens while retaining control of their funds through self-custody wallets. Users hold their private keys, ensuring they manage their own digital assets rather than leaving funds on the exchange.
The platform provides access to millions of tokens across Solana, Base, and OKX’s X Layer, an Ethereum layer-2 network built with Polygon’s Chain Development Kit (CDK). The launch coincides with a surge in decentralized exchange activity, as DEX trading volumes reached a record $613 billion in October, representing about 20% of total crypto exchange volume, according to ForkLog.
Addressing DEX usability challenges
By integrating DEX trading directly into its app, OKX aims to lower barriers for users navigating decentralized platforms, such as managing multiple wallets, bridging assets across chains, and handling gas fees. This move follows OKX’s announcement to re-enter the US market after reaching a $505 million settlement with the Department of Justice earlier this year.
DEX market growth and adoption
OKX is entering a decentralized exchange ecosystem alongside established players like Uniswap, PancakeSwap, and Hyperliquid. DEXs remain a fundamental component of the DeFi ecosystem, and their growth is particularly evident in derivatives markets. In September, DEX-based perpetual futures trading reached a record $70 billion, highlighting increasing onchain liquidity and demand for decentralized derivatives.
While DEXs can present usability and accessibility challenges, experienced traders favor them for lower fees and the self-custody model, which preserves core principles of cryptocurrency ownership.