Key Highlights
- Coinbase now lets users trade Solana tokens directly on-chain, providing early access to millions of assets while supporting USDC settlements.
- The DEX feature links traditional banking with decentralized networks, expanding access globally, including Brazil and soon India, under regulatory rules.
- Coinbase aggregates liquidity from multiple DEXs, enabling better prices, immediate trading on Base Layer 2, and a smoother experience for users and issuers.
Coinbase has added native Solana DEX trading to its app, allowing users to trade SOL-based tokens directly on-chain. The platform also supports settlements in USDC, operating without traditional custodial systems.
Andrew, a Coinbase Protocol Specialist, said the new feature lets users trade millions of tokens directly as they appear on the blockchain. It gives people early access to newly created Solana tokens. For now, the feature is available to U.S. users outside New York, with plans to expand gradually.
Millions of assets are being minted on-chain daily, and Coinbase wants its users to access them seamlessly. The app now allows the same easy-to-use interface for decentralized trades, meaning users can purchase, sell, and swap Solana assets without leaving Coinbase.
Andrew emphasized, “For issuers and builders, if your token has sufficient liquidity, this means you can be accessible to the millions of users on Coinbase without getting listed.” The platform’s goal is to create a direct bridge between asset creators and investors.
Base-Solana bridge sparks debate over true intent
This follows Coinbase’s Layer-2 network, Base, launching a cross-chain bridge to Solana on December 4. The bridge was aimed at making it easier to move SOL, SPL tokens, and other assets between the two networks.
As per the announcement, the bridge was powered by Chainlink’s CCIP and Coinbase’s own verification system. Thus ensuring that transfers remain secure and reliable at the same time letting users and apps interact across both ecosystems.
This move however sparked debate. Vibhu Norby from Solana’s DRiP criticized it, saying it mostly favored apps tied to Base and ignored Solana’s own developers. Solana Co-Founder Anatoly Yakovenko shared similar concerns, suggesting the bridge might mainly be a way for Base to pull Solana’s assets into its own ecosystem rather than truly helping both networks.
Base executives, including Pollak, contended that “the bridge is completely bidirectional.” Thus, it has advantages in that it provides access to both ecosystems for new users and sources of liquidity. However, this debate also reflects an underlying conflict over interoperability between Ethereum Layer 2 networks and alternative Layer 1 blockchains, among which Solana is defined.
Recent updates from Coinbase
Coinbase recently teamed up with PNC Financial Services Group to introduce direct Bitcoin trading for private clients on the infrastructure provided by the platform, marking a deeper entry by traditional finance into crypto. Brett Tejpaul, Co-CEO of Coinbase Institutional, confirmed the setup supports any trade size, providing a secure entry point for high-net-worth clients.
Apart from this, Coinbase also resumed operations in India after a two-year pause. Users can immediately trade crypto-to-crypto, while full fiat on-ramp functionality is expected in 2026. John O’Loghlen, Coinbase APAC director, noted that a clean off-boarding previously allowed the company to restart on a fresh regulatory footing. This step highlights Coinbase’s intent to expand responsibly while complying with local financial rules.
Also Read: Australia Eases Rules for Stablecoins and Wrapped Tokens
