Coinbase has directly integrated with Solana's rapidly growing DeFi ecosystem, allowing users to trade any Solana token through the DEX channel without going through a formal listing process.
Article by Adrian Zmudzinski
Source: Cointelegraph
Article compiled by: Chang
Coinbase is deeply involved in the Solana ecosystem and has now integrated decentralized exchange functionality, allowing users to trade native Solana tokens without the traditional listing process.
Coinbase protocol expert Andrew Allen posted on the X platform that Coinbase users can now trade all Solana (SOL) tokens through decentralized exchange (DEX) integrations, "without requiring listing approval." He added, "Soon, users will be able to see native Solana assets directly when they open the Coinbase app."
Allen pointed out that "for project issuers and builders, as long as the token has sufficient liquidity, it can reach millions of users on the Coinbase platform without going through the listing process."
Previously, in early August, Coinbase had already supported trading of its Base blockchain's native token through a DEX-like integration. At the time, the exchange stated that it "planned to expand DEX support to more public chains, with Solana being one of the first new networks added."
The Solana DeFi ecosystem is experiencing rapid growth.
Amid Coinbase's integration announcement, the Solana decentralized finance (DeFi) ecosystem is seeing a series of new developments. Earlier on Thursday, DeFi company Ellipsis Labs announced the launch of a perpetual contract trading platform based on Solana. The platform claims to operate entirely on the blockchain—including risk and matching engines—allowing developers to build upon it. Currently, the platform is still in closed beta testing and is not yet open to the public.
Meanwhile, Redstone, a DeFi infrastructure company, provided Cointelegraph with its "2025 Solana Lending Market Report," which stated that "Solana's on-chain lending and trading activity is showing strong growth, and its DeFi strategy has reached institutional-level maturity." The company's data shows that "Solana has become a dominant force in on-chain finance," with "daily DEX trading peaks reaching $35.9 billion." Redstone predicts that the next wave of growth will focus on the areas of "real-world asset tokenization and institutional capital deployment."
"The large-scale introduction of traditional finance onto the blockchain is expected to unlock trillions of dollars in internet capital market value. Solana's infrastructure advantages give it a favorable position in this expansion process, and it is expected to gain a considerable market share."
The fusion and collision of centralized and decentralized exchanges
Coinbase's integration is just the latest example of a growing trend: centralized exchanges are increasingly integrating DEX platforms, using them as user-friendly front-end interfaces. In early October, Sergey Kuntz, co-founder of DEX aggregator 1inch, predicted that centralized crypto exchage would gradually decline, ultimately existing only as front-end interfaces for decentralized finance (DeFi).
The market landscape is evolving: liquidity on DEX platforms continues to grow, order execution speeds are accelerating, fees are decreasing, and the user experience is becoming increasingly simplified. DeFi data platform DefiLlama shows that all DEX platforms processed nearly $12 billion in trading volume in the past 24 hours—exceeding Coinbase's reported $2.566 billion in spot trading volume and approaching Binance's approximately $18 billion trading volume as reported by CoinMarketCap.
Currently, Kuntz's prediction is coming true, as Coinbase is far from the only centralized exchange to launch such integration. In mid-November, the crypto exchage OKX also began offering DEX trading services on its platform. And as early as the end of March, Binance, a leading global cryptocurrency exchange, had already launched a "centralized-decentralized" exchange linkage function supporting Ethereum, Solana, Base, and BNB smart chains.
