Coinbase Opens Solana DEX Access as CeFi and DeFi Converge

Coinbase is transferring deeper into the Solana ecosystem, letting customers commerce native Solana tokens by way of a decentralized trade integration relatively than conventional listings.

Andrew Allen, Coinbase protocol specialist, said in an X put up that Coinbase now permits its customers to commerce all Solana (SOL) tokens by way of a decentralized exchange (DEX) integration, “with out listings,” he famous, including that “very quickly it is possible for you to to open the Coinbase app and see native Solana property on Coinbase.”

“For issuers and builders, in case your token has enough liquidity, this implies you may be accessible to the tens of millions of customers on Coinbase with out getting listed,” Allen mentioned.

The announcement follows Coinbase’s integration of tokens from its Base blockchain by way of the same DEX integration in early August. The announcement famous that the trade deliberate to “increase DEX assist to incorporate further networks, beginning with Solana.”

Associated: Coinbase to roll out its new ‘DeFi Mullet’ offering in Brazil

Solana’s DeFi ecosystem is booming

Coinbase’s integration comes amid a slew of developments in Solana’s decentralized finance (DeFi) ecosystem.

Earlier Thursday, DeFi firm Ellipsis Labs announced the launch of its Solana-based perpetual swap DEX. The announcement claims that the platform is totally onchain — together with the danger and matching engine — permitting one to construct on prime of it. Nonetheless, the platform is at the moment in non-public beta and not but open to most people.

The launch coincides with a brand new “Solana Lending Markets Report 2025,” shared with Cointelegraph by DeFi infrastructure agency Redstone. The report argues that “DeFi methods on Solana have reached institutional-grade sophistication” and factors to sturdy progress in Solana’s onchain lending and buying and selling exercise.

Redstone claims that “Solana has grow to be a dominant drive in on-chain finance” and “processed $35.9 billion in peak each day DEX quantity.” The corporate expects the following wave of progress to give attention to “tokenized real-world property and institutional capital deployment.”

“Bringing conventional finance onchain at scale can unlock trillions in Web Capital Markets. Solana’s infrastructure is positioned to seize a major share of this growth.“

Associated: How perp DEXs quietly took over 26% of the futures market

Centralized and decentralized exchanges collide

The Coinbase integration is simply the most recent manifestation of a broader development: Centralized exchanges are more and more integrating DEX platforms and serving as user-friendly entrance ends for them. In early October, Sergej Kunz, the co-founder of DEX aggregator 1inch, mentioned that centralized crypto exchanges will regularly fade and serve only as front ends for decentralized finance.

The panorama is shifting, with DEX platforms seeing rising liquidity, sooner order execution instances, decrease charges and an more and more simplified person expertise. DeFi knowledge platform DefiLlama shows that each one DEX platforms processed almost $12 billion value of trades during the last 24 hours — that is greater than Coinbase’s 24-hour spot quantity of $2.566 billion and corresponding to Binance’s almost $18 billion as reported by CoinMarketCap.

To this point, Kunz’s prediction is holding up, with Coinbase removed from the one centralized trade to roll out related integrations. In mid-November, crypto trade OKX also began offering DEX trading on its platform. On the finish of March, the world’s prime cryptocurrency trade, Binance, launched centralized-to-decentralized exchange trades on Ethereum, Solana, Base and the BNB Sensible Chain.