Coinbase, a global leader in cryptocurrency trading, has taken a bold step forward by integrating its retail orderflow with Base, its Ethereum Layer-2 blockchain. This strategic move unlocks new opportunities for traders, enabling access to thousands of decentralized assets and yield-bearing tokens.
What’s New: Retail Trades Routed to Base
In a bid to expand its ecosystem, Coinbase has started routing approximately 5% of its retail trades to the decentralized exchanges (DEXs) within Base. During the beta phase, onchain activity has shown over 2,600 tokens traded—a staggering figure considering Coinbase’s centralized exchange (CEX) hosts only 458 listed assets.
This routing introduces traders to a deeper pool of assets. Meme coins, creator tokens, and yield-bearing stablecoins like sUSDe and syrupUSDC, which are exclusively available onchain, are now within reach. Furthermore, automated market makers like Uniswap, PancakeSwap, and Aerodrome play a key role in absorbing retail demand.
Implications for Decentralized Finance (DeFi)
By leveraging Base, Coinbase is reshaping access to DeFi liquidity. Instead of traditional order books, transactions are now funneled through decentralized liquidity pools. This allows instant support for token pairs, bypassing the lengthy listing process of centralized exchanges. Additionally, Coinbase Borrow, an onchain lending feature, has grown significantly, with $680 million in outstanding positions and weekly volumes near $30 million.
Base serves as both the execution layer and the liquidity backbone for Coinbase’s retail users. Yield-bearing tokens and lending protocols, such as those offered by Maple Finance, Morpho Labs, and Moonwell, are now seamlessly integrated into the Coinbase interface, enhancing accessibility for everyday users.
More than Speculation: The Bigger Picture
This evolution signals much more than speculative trading. Through user-friendly interfaces, Coinbase connects retail customers to advanced DeFi tools, including lending, borrowing, and yield markets. For instance, tokens like syrupUSDC and sUSDS are foundational to Pendle’s fixed-income markets, offering users both liquidity and profitability.
As participation extends beyond the beta group, Coinbase’s integration with Base is expected to drive significant growth in routed trades, borrowing, and yield-based activities. Retail users gain a transparent, efficient, and deeply connected trading ecosystem.
Ready to Explore DeFi?
The crypto market is evolving rapidly, and Coinbase is at the forefront. Curious about exploring yield-bearing tokens? Discover popular decentralized finance protocols available through Coinbase’s Base integration today. One such product is syrupUSDC by Maple Finance, offering stable yields on your investments. Don’t miss out on the future of crypto trading!