Nikolas Sargeant
Coinbase is integrating 1inch's Swap API into its mobile application to enhance non-custodial token swaps for users, the companies announced Wednesday. The partnership represents 1inch's largest U.S. client to date and marks another step in Coinbase's strategy to expand decentralized exchange capabilities for its customer base.
The integration continues Coinbase's push into decentralized trading, which began in August when the centralized exchange launched DEX trading functionality allowing users to access millions of previously unavailable digital assets. That initiative came as Coinbase faced declining spot trading volumes and revenue in the second quarter of the year.
The collaboration with 1inch could significantly strengthen Coinbase's market position. 1inch operates a DeFi ecosystem serving 25 million users and processing over $500 million in daily trading volume. The integration will enable seamless access to decentralized exchanges directly within the Coinbase app, according to Coinbase's Head of Trading Scott Shapiro.
This move aligns with Coinbase's broader ambition to become an "everything exchange" offering diverse trading options including tokenized stocks and prediction markets similar to Polymarket and Kalshi. 1inch co-founder Sergej Kunz emphasized that non-custodial swap products provide an ideal solution for centralized platforms bringing assets on-chain securely.
Coinbase Additional Context & Strategic Moves
Beyond the 1inch integration, Coinbase has pursued other strategic initiatives that reflect its ambition to lead in the convergence of decentralized finance (DeFi), traditional assets, and emerging technologies:
Coinbase recently partnered with Google to introduce stablecoin payments in artificial intelligence (AI) apps. The initiative centers around the Agent Payments Protocol (AP2), a system allowing AI agents to send and receive USDC and other stablecoins for services and digital goods. Over 60 partners—including the Ethereum Foundation, Salesforce, American Express, and Etsy—are involved, underscoring a major step in integrating blockchain payments into AI-driven ecosystems.
In another move to deepen decentralized trading access, Coinbase has added support for PancakeSwap liquidity within its mobile app via the Retail DEX interface. Users can now tap into liquidity on the Base network directly from the Coinbase UI, enhancing access to BNB Chain–based assets without leaving the platform. This underscores Coinbase’s growing support for multichain DeFi integrations beyond Ethereum-centric protocols.
