Key Highlights
- Coinbase introduces DEX trading in Brazil after launching the feature in the U.S.
- The expansion aligns with rising crypto adoption and regulatory clarity in Brazil.
- A former Coinbase director now leads Nubank’s crypto unit, highlighting regional momentum.
Coinbase is widening its global on-chain push. CEO Brian Armstrong announced on November 19 that the company is rolling out decentralized exchange (DEX) trading inside the Coinbase app for users in Brazil, marking its first major expansion beyond the United States.
Armstrong said U.S. customers have already been using the feature and that “onchain trading is getting more and more accessible.”
The update follows Coinbase’s August launch of native DEX trading for selected U.S. users. That rollout introduced seamless access to millions of on-chain assets by routing trades through decentralized liquidity sources such as Uniswap, Aerodrome, and other Base-connected DEXs.
Users can trade newly issued tokens seconds after they appear on Base, fund transactions with USDC or Coinbase balances, and rely on an integrated self-custody wallet, all without leaving the Coinbase interface.
Why Brazil matters
Brazil has become one of Coinbase’s most important international markets. The country ranks among the largest crypto adopters globally and has recently advanced strict regulatory frameworks, including OECD-aligned reporting rules and the upcoming Drex CBDC.
Launching DEX trading in Brazil enables Coinbase to reach a growing user base that is already comfortable with on-chain payments, stablecoins, and tokenized assets. The expansion aligns with a broader regional trend, as Latin American fintechs deepen their crypto offerings.
The exchange’s presence in the region is further highlighted by Michael Rihani, a former Coinbase director, who joined Nubank in September to lead its crypto division. His move underscored the shift of U.S. talent into fast-growing Latin American markets and highlighted the region’s rising competitiveness in crypto financial services.
Under Rihani, Nubank added features like Bitcoin bill payments. Coinbase’s DEX rollout will now compete directly for Brazil’s increasingly sophisticated retail market.
What comes next
Coinbase plans to extend DEX trading to additional networks beyond Base, starting with Solana. A broader international rollout is expected, positioning the exchange as a global hub for on-chain liquidity and self-custody access.
For Brazil, the update reinforces its role as a major arena for the next wave of global crypto adoption, where exchanges, banks, and fintechs are competing to bring decentralized trading to the mainstream.
Also read: Coinbase Taps Kalshi to Build Regulated Prediction Market
