Coinbase launches DEX trading for users in Brazil

Key points:

• Coinbase is expanding its DeFi Mullet service to Brazil, giving users access to DEX trading directly through the exchange interface.
• The service simplifies working with on-chain assets and allows trading without network fees when using self-custodial wallets.

Coinbase is expanding its DeFi Mullet service to Brazil, allowing users to trade tens of thousands of tokens through the platform’s familiar interface.

Coinbase CEO Brian Armstrong said the launch will give Brazilian users easy access to DEX trading. According to him, on-chain operations are becoming more accessible, and American customers have already had a chance to evaluate the service.

DeFi Mullet was first introduced in the US on October 8 as a tool to simplify working with DeFi. At the time, Armstrong promised to bring it to other markets.

Advantages of the service

In a press release, Coinbase noted that integration with DEX eliminates the technical complexities of DeFi for users and makes on-chain trading more understandable. Now you can make trades on platforms such as Uniswap and Aerodrome without leaving the Coinbase interface. When sending a request, aggregators automatically compare liquidity and select the best prices.

The service also supports self-custody wallets, allowing users to trade without network fees while maintaining full control over their assets. However, the exact launch date in Brazil has not yet been disclosed.

Representatives of the crypto community have responded positively to Coinbase’s expansion. Some see it as a step towards the company’s global development, while others note the importance of reliability and security when bringing on-chain functions to new markets.

The situation in the Brazilian crypto market

Meanwhile, Brazil is preparing to update its regulatory framework. The central bank is introducing new AML and KYC rules, and all digital asset service providers will be required to obtain a license and comply with transparency and cybersecurity standards similar to those for banks.

Despite the tightening of requirements, Brazil remains one of the fastest-growing crypto markets in the region. More than 10% of the population already owns digital assets, which is above the global average. The growing interest in cryptocurrencies is linked to inflationary risks, the instability of the national currency, and the development of fintech infrastructure.