Coinbase launches DEX portal for UK customers. This is Coinbase’s most important market outside of the US; it’s where the firm has the most employees outside of the US and the biggest presence outside of the US. The UK is a cornerstone for us, according to Keith Grose, Coinbase’s UK CEO. The launch will show and demonstrate to the government that DeFi can be safe, if handled correctly, Grose said.
The new service will enable UK customers to access DeFi vendors like Uniswap and Aerodrome through the Coinbase app. Through the decentralised exchange trading integration, UK users will be able to trade assets that are native to Base, Coinbase’s layer-2 network. Coinbase plans to roll out the offering to other networks like Solana. This will increase the number of assets they can trade on Coinbase from 300 to millions.
The DeFi mullet — easy Coinbase experience in the front and DeFi in the back — that Coinbase has championed for over a year. Coinbase will work with trusted third parties to screen out and highlight risks to assets, such as a high ownership concentration, Grose said. A high ownership concentration could raise the risk of a rug pull, which is when creators withdraw liquidity, leaving token holders with empty bags. Coinbase has lobbied the UK government over crypto donations ban that targets political parties, calling the measure a blow against Reform UK.
Coinbase has made no secret of its plans to become an “everything exchange” where users can trade everything from stocks to memecoins. Most of these efforts have been made in the US, but Grose says more services will come to the UK. “I have gray hairs for a reason — it’s shipping season,” Grose said. Coinbase previously rolled out the service in the US and Brazil.
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