Coinbase has announced the implementation of the 1inch Swap API in its mobile application, providing exchange users with direct and quick access to decentralized token exchanges through an integrated wallet. With this integration, Coinbase has become the largest partner of 1inch in the U.S., strengthening the platform’s position among key institutional players in the market.
This is reported by Business • Media
New Opportunities for Users and Institutions
The DEX feature, recently launched in the Coinbase app, allows customers to work with on-chain assets without the involvement of a custodian. The integration with 1inch significantly expands this functionality, offering direct access to the liquidity of decentralized exchanges within a familiar user interface.
For the 1inch team, the collaboration with Coinbase marks an important step in the development of the corporate direction of 1inch Business. The company emphasizes that this direction is aimed at companies from traditional financial sectors and CeFi that seek access to advanced DeFi technologies. The increasing number of such integrations indicates a growing interest from institutions in on-chain solutions.
“1inch non-custodial swaps are the perfect solution for centralized players in both the cryptocurrency and TradFi sectors who are looking for seamless and secure asset placement on the blockchain. It’s great that Coinbase is leading this transition, and others will inevitably follow suit,” said Kuntz.
Significance for the Market and Users
Coinbase has emphasized that the partnership with 1inch will simplify the transition for millions of users to decentralized financial services. According to Scott Shapiro, head of trading, the integration provides “seamless access to DEX directly from the app.”
Experts note that such alliances help overcome barriers to the mass adoption of on-chain assets and stimulate the convergence of centralized and decentralized financial services. 1inch co-founder Sergey Kuntz highlighted that the company’s mission is already extending beyond DeFi to encompass traditional markets, where non-custodial solutions are becoming an important component of the infrastructure.
The integration between Coinbase and 1inch underscores the trend towards the convergence of centralized and decentralized platforms, opening new opportunities for users and contributing to the development of the entire industry.