Decentralized finance (DeFi) ecosystem 1inch revealed that its Swap API has been integrated into the Coinbase application to provide streamlined, secure, and efficient token exchanges for users of Coinbase’s decentralized trading service. This marks the most notable U.S. partnership for the 1inch DEX aggregation protocol so far.
Coinbase’s newly launched decentralized trading option gives access to onchain assets through an in-app self-custodial wallet. With the integration of the 1inch Swap API, the platform enables onchain token swaps in a non-custodial manner, reducing barriers to decentralized finance participation while offering broader liquidity access.
The development aligns with 1inch’s strategy of expanding its software-as-a-service offering, known as 1inch Business, which serves as a bridge for both traditional and centralized financial institutions to adopt decentralized finance solutions. The inclusion of Coinbase as a partner highlights the growing role of 1inch Business as an essential entry point to DeFi technologies across the digital asset industry.
“Our integration with 1inch is a significant step forward in bringing onchain trading to our users,” said Scott Shapiro, Head of Trading at Coinbase, in a written statement. “Together, we’re enabling seamless access to DEXes within the Coinbase app, which will bring millions of our users onchain,” he added.
“We are no longer just looking to unify DeFi; our vision extends to all financial markets,” said Sergej Kunz, 1inch co-founder, in a written statement. “1inch’s non-custodial swap products are the ideal solution for centralized players across both crypto and TradFi as they move to bring assets onchain in a seamless and secure way. It’s great to see Coinbase getting ahead of this shift—others will inevitably follow,” he added.
1inch is advancing decentralized finance by providing an efficient trading experience to more than 25 million users. In addition to operating as a leading venue for cost-effective token exchanges, with daily transaction volumes exceeding $500 million, the platform delivers a suite of tools designed to enhance digital asset use. These include a self-custodial wallet for secure storage, a portfolio tracker for asset management, a business portal granting institutional access to its technology, and a debit card that enables direct crypto spending. Through ongoing innovation, 1inch continues to make decentralized finance more accessible and practical across the sector.
The post 1inch And Coinbase Partner To Provide Seamless Token Swaps For Retail DEX Users appeared first on Metaverse Post.
