Hassan Maishera
TL;DR
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Cryptocurrency exchange Coinbase has launched its decentralized exchange (DEX) service in Brazil.
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Coinbase's DEX feature is non-custodial, allowing users to manage trades through a self-custody wallet without paying network fees.
Coinbase Launches DEX Service in Brazil
Coinbase, one of the leading cryptocurrency exchanges in the world, has launched its decentralized exchange trading service to users in Brazil. This latest development comes shortly after the Brazilian apex bank imposed sweeping new rules on crypto companies.
The launch of the DEX gives Brazilians access to a wider range of tokens, expanding from a few hundred to potentially millions. Users can access these tokens without leaving the Coinbase app.
In its blog post, Coinbase stated that,
“DEX trading is the latest step in a bold push by Coinbase to build an app to exchange everything, which will allow users to trade anything from anywhere in the world with 24/7 access. As regulatory clarity continues to mature globally, we are looking forward to updating our users on new and expanded services in line with this vision.”
The cryptocurrency exchange already offers DEX trading for users in the U.S. as it seeks to provide a comprehensive range of services on a single platform.
The DEX allows users to trade Base-native tokens moments after they’re minted. Coinbase’s DEX routes trades through platforms like Uniswap and Aerodrome, removing the need for users to interact directly with unfamiliar decentralized protocols.
Coinbase added that users don’t pay network fees and can manage trades through a built-in self-custody wallet.
This latest development comes less than a month after Brazil’s central bank released a framework requiring crypto service providers to be licensed, report international transactions, and meet capital thresholds of up to $7 million.
The rule requires foreign platforms serving Brazilian users to establish a local entity or risk being barred.
