Coinbase has integrated 1inch

Today, the official announcement was made regarding the integration of 1inch Swap API into Coinbase.

In this way, Coinbase becomes the most important U.S. API client for 1inch, also improving Coinbase users’ access to secure and seamless token exchanges. 

In fact, it allows easy and immediate access to the decentralized exchange (DEX) even for retail users who are not very experienced in decentralized finance (DeFi). 

1inch

1inch is an aggregator of decentralized crypto exchanges, already used by 25 million users. 

Its goal is to accelerate the development and spread of decentralized finance, ensuring a smooth cryptocurrency trading experience. 

It is a decentralized platform for efficient and low-cost token exchange, with over 500 million dollars in daily trading volumes. 

In addition to the DEX, it also offers a range of other crypto tools, including a secure self-custody wallet, a portfolio tracker for managing digital assets, a dedicated business portal, and a debit card.

Its mission is to simplify DeFi for everyone, and the integration into Coinbase is precisely in this direction. 

Coinbase

Coinbase is the leading centralized crypto exchange in the USA. 

Its mission is to increase economic freedom for more than a billion people. 

The goal is to update the existing financial system that has been around for centuries, providing a reliable crypto platform that simplifies interaction between people and institutions. In addition to trading services, it also offers staking, custody, spending, and fast and free global transfers. 

It also provides some of the most important essential infrastructures in the world for on-chain activities, and supports the adoption of responsible rules to make the benefits of cryptocurrencies available worldwide.

Among crypto exchanges, it has always been one of the simplest to use even for complete beginners, and this is why the integration of 1inch Swap API is so important. 

In this way, even less experienced users, perhaps completely unfamiliar with DeFi, will be able to take advantage of decentralized swaps on 1inch without having to leave Conbase. 

The Integration

The integration consists of embedding the 1inch API Swap into the Coinbase app.

In this way, users of the centralized exchange will be able to take advantage of the fluid, secure, and rapid token exchanges of the DEX. Practically, Coinbase has become the most important U.S. client of the aggregator. 

The decentralized exchange functionality was only recently introduced by Coinbase, allowing users to directly access on-chain assets through an integrated self-custody wallet.

By implementing the 1inch Swap API, Coinbase enables non-custodial on-chain token swaps within its app, further reducing barriers to DeFi and offering users greater access to liquidity.

The comments

This launch is based on 1inch’s commitment to growing its business segment based on SaaS (Software-as-a-Service) as a gateway for institutions, both TradFi and CeFi. In this way, it becomes possible to seamlessly integrate advanced DeFi technologies even on traditional financial platforms. 

The head of trading at Coinbase, Scott Shapiro, stated: 

“Our integration with 1inch represents a significant step forward in offering on-chain trading to our users. Together we are enabling seamless access to DEX within the Coinbase app, which will bring millions of our users on-chain.”

The co-founder of 1inch, Sergej Kunz, added: 

“We are no longer just aiming to unify DeFi; our vision extends to all financial markets. 1inch’s non-custodial swap products are the ideal solution for centralized operators, both in the crypto sector and in TradFi, who are moving to bring assets on-chain in a seamless and secure manner. It’s fantastic to see Coinbase leading this change; others will inevitably follow.”