Coinbase is shifting deeper into the Solana ecosystem, letting customers commerce native Solana tokens by way of a decentralized alternate integration fairly than conventional listings.
Andrew Allen, Coinbase protocol specialist, stated in an X publish that Coinbase now permits its customers to commerce all Solana (SOL) tokens by way of a decentralized alternate (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 adequate liquidity, this implies you could be accessible to the hundreds of thousands of customers on Coinbase with out getting listed,” Allen stated.
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 alternate deliberate to “increase DEX help to incorporate extra networks, beginning with Solana.”
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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 introduced the launch of its Solana-based perpetual swap DEX. The announcement claims that the platform is absolutely onchain — together with the danger and matching engine — permitting one to construct on prime of it. Nonetheless, the platform is presently in non-public beta and never but open to most of the 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 robust development in Solana’s onchain lending and buying and selling exercise.
Redstone claims that “Solana has develop into a dominant power in on-chain finance” and “processed $35.9 billion in peak each day DEX quantity.” The corporate expects the following wave of development to concentrate on “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.“
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Centralized and decentralized exchanges collide
The Coinbase integration is simply the newest 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, stated that centralized crypto exchanges will progressively fade and serve solely as entrance ends for decentralized finance.
The panorama is shifting, with DEX platforms seeing rising liquidity, quicker order execution instances, decrease charges and an more and more simplified consumer expertise. DeFi information platform DefiLlama reveals that every one DEX platforms processed practically $12 billion value of trades over the past 24 hours — that is greater than Coinbase’s 24-hour spot quantity of $2.566 billion and akin to Binance’s practically $18 billion as reported by CoinMarketCap.
Thus far, Kunz’s prediction is holding up, with Coinbase removed from the one centralized alternate to roll out related integrations. In mid-November, crypto alternate OKX additionally started providing DEX buying and selling on its platform. On the finish of March, the world’s prime cryptocurrency alternate, Binance, launched centralized-to-decentralized alternate trades on Ethereum, Solana, Base and the BNB Sensible Chain.
