Coinbase (COIN) is rolling out decentralized exchange (DEX) trading to users in Brazil just days after the country’s central bank imposed sweeping new rules on crypto companies.
The move gives Brazilians access to a much larger pool of tokens, growing from a few hundred to potentially millions, without leaving the Coinbase app, the company said in a statement Wednesday.
Coinbase already offers DEX trading to users in the United States, as part of its push to become a “multi-purpose app,” a term for an app that offers a range of services on a single platform.
The update allows users to trade base native tokens moments after creation. It routes exchanges through platforms like Uniswap and Aerodrome, eliminating the need for users to interact directly with unfamiliar decentralized protocols.
Users pay no network fees and can manage transactions through a built-in self-custodial wallet, Coinbase added.
The company also added that “assets identified by a trusted third-party provider as confirmed malicious or fraudulent assets will not be available,” before emphasizing that it does not review access offered through DEX integrations.
Earlier this month, Brazil’s central bank released a framework requiring crypto service providers to be licensed, report international transactions and meet capital thresholds of up to $7 million.
The rules place crypto activities under Brazil’s foreign exchange and capital markets regime and give companies nine months to comply.
Foreign platforms serving Brazilian users, including Coinbase, must create a local entity or face exclusion. Although Coinbase’s DEX functionality is non-custodial and may not meet certain licensing requirements, the bank’s rules also cover self-custody wallets when used for international transfers, which are now subject to monthly reporting.
