Coinbase is deepening its layout in the Solana ecosystem, now allowing users to trade native Solana tokens without the traditional listing process through the integration of decentralized exchange features.

Coinbase protocol expert Andrew Allen posted on the X platform that Coinbase users can now trade all Solana (SOL) tokens through the integrated decentralized exchange (DEX) functionality, "without listing review." He added, "Soon users will be able to see native Solana assets directly when they open the Coinbase app."

Allen pointed out, "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."

Earlier in early August, Coinbase had already supported trading of its Base blockchain's native tokens through a similar DEX integration method. At that time, the exchange stated, "We plan to expand DEX support to more public chains, with Solana being one of the first new networks."

As Coinbase announced the integration, the Solana decentralized finance (DeFi) ecosystem is witnessing a series of new developments. Earlier on Thursday, DeFi company Ellipsis Labs announced the launch of a Solana-based perpetual contract trading platform. The platform claims to operate entirely on-chain—including risk and matching engines—allowing developers to build on top of it. Currently, the platform is still in closed testing and has not yet been opened to the public.

At the same time, DeFi infrastructure company Redstone provided Cointelegraph with the "2025 Solana Lending Market Report," stating, "On-chain lending and trading activities on the Solana chain are showing strong growth, and its DeFi strategies have reached institutional-level maturity." The company's data shows that "Solana has become a dominant force in on-chain finance," with "daily DEX trading peaking at $35.9 billion." Redstone predicts that the next wave of growth will focus on "tokenization of real-world assets and deployment of institutional capital."

Coinbase's integration is just the latest example of a larger trend: centralized exchanges are increasingly integrating DEX platforms and serving as user-friendly front-end interfaces. At the beginning of October, 1inch co-founder Sergey Kunz predicted that centralized crypto exchanges would gradually decline, ultimately existing only as front-end interfaces for decentralized finance.

The market landscape is evolving: liquidity on DEX platforms continues to grow, order execution speeds are increasing, fees are decreasing, and 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—surpassing Coinbase's reported $2.566 billion in spot trading volume and approaching Binance's trading scale of about $18 billion as per CoinMarketCap statistics.

Currently, Kunz's prediction is coming true, as Coinbase is far from the only centralized exchange to launch such integrations. In mid-November, crypto exchange OKX also began offering DEX trading services on its platform. As early as the end of March, the leading global cryptocurrency exchange Binance had already launched a "centralized-decentralized" trading feature supporting Ethereum, Solana, Base, and BNB Smart Chain.

Related: A Federal Reserve rate cut could boost stocks, but Bitcoin (BTC) options are bearish below $100,000 in January.

Original: “With the Convergence of CeFi and DeFi, Coinbase Opens Solana DEX Access”

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