CMC News

#Coinbase Integrates 1inch #API for Enhanced #Token Swaps

Coinbase will integrate 1inch's Swap API into its mobile application, enabling non-custodial token swaps for approximately 120 million monthly users. The partnership represents the decentralized exchange aggregator's largest U.S. client to date, according to both companies.

The integration allows Coinbase users to perform on-chain #token trading directly from their own wallets through the platform's decentralized exchange feature. 1inch brings 25 million users and an average of over $500 million in daily trading volume to the collaboration. The deal highlights growing mainstream adoption of decentralized finance services.

Coinbase Head of Trading Scott Shapiro stated that the companies are enabling seamless access to decentralized exchanges within the app. The move aligns with Coinbase's strategy to position itself as an "everything exchange" offering tokenized stocks and prediction market betting. Total value locked in #DeFi has surged to $163 billion this year.

The partnership reflects a broader trend of exchanges evolving into universal exchanges that offer more than basic trading. Platforms are adding on-chain services and tokenized real-world assets to retain users. Recent pro-crypto regulations in the United States have accelerated this shift toward comprehensive financial platforms.

1inch co-founder Sergej Kunz described non-custodial swap products as ideal solutions for centralized players across crypto and traditional finance. He stated that companies are moving to bring assets on-chain in seamless and secure ways. Kunz expressed satisfaction that Coinbase is getting ahead of this inevitable industry shift.