This new feature lets users trade Solana (SOL) tokens and other Solana-related assets directly within the app. It works without relying on traditional custodial systems.
Coinbase Feature Reduces Need for Base-Solana Bridge
In a recent X post, Andrew, a protocol specialist at Coinbase, confirmed that the platform now supports native Solana DEX trading. This lets users swap SOL-based tokens directly inside the app, making trading faster and simpler. This initiative comes as DEX activity has gained traction this year.
In addition to this feature, users can now settle trades using USDC. Customers can also use traditional funding sources like cash, bank accounts, and debit cards. This provides a simpler and faster way to complete transactions.
In a recent X post, Solana community member Vibhu noted that this development reduces the need for the Base-Solana bridge, which launched last week.
The bridge was initially intended to provide liquidity and new holders for SOL tokens via the Base network. With Coinbase’s new feature, users can now trade SOL tokens directly, often with better pricing and execution than through the bridge.
Coinbase Expands Decentralized Trading Ahead of Schedule
This launch builds on Coinbase’s August introduction of DEX trading for Base-network assets. At that time, the company promised Solana support would follow soon. With this week’s update, Coinbase has delivered its planned feature earlier than expected.
The company revealed it will gradually add more tokens that support DEX trading, giving users a wider choice of assets. This expansion move comes as Coinbase is facing more competition from platforms like Robinhood and Kraken, which have been gaining U.S. market share.
The company’s Q2 earnings showed a drop in spot trading volumes. By offering decentralized trading, Coinbase aims to meet the growing demand for self-custody and on-chain trading. This feature lets users keep control of their assets without relying on custodial services.
Coinbase Expands Offerings and Strengthens Market Position
While no global rollout date has been announced, Coinbase said it will gradually add new regions and networks. The company has been actively expanding its services. Last month, Coinbase acquired Vector.fun, a Solana-based platform for memecoins and social trading.
It also started offering futures contracts for Dogecoin (DOGE) and other altcoins. Coinbase Prime partnered with Figment to give institutional users more staking options, including support for Solana.
Additionally, Coinbase’s layer 2 network, Base, is reportedly thinking about launching its own token to boost decentralization and community involvement. At the same time, talks to acquire BVNK have stalled due to issues found during the review process.
Overall, these moves show that Coinbase is adapting to customer needs while strengthening its position in the competitive crypto exchange market.
The post Coinbase Introduces Direct Solana DEX Trading with USDC Settlement appeared first on BitcoinLinux.com.
