OKX launches in-wallet DEX trading, tapping Base, Solana and X Layer
Quick Take
- Global crypto exchange OKX is following in the footsteps of competitors like Coinbase by integrating DeFi trading directly into its core self-custody wallet product.
- DEX trading recorded its best month on record in October.
Centralized crypto exchange OKX is launching a new trading feature on its OKX App, offering users improved access to DEXs on Base, Solana, and its incubated X Layer. The feature will be available worldwide, including in the U.S.
The idea is to create unified access to "millions of tokens" across different blockchain ecosystems. "With one app for all markets, users can manage their centralized and decentralized trades in one unified portfolio view," OKX wrote.
"Customers will be able to switch between centralized orderbooks and decentralized markets seamlessly," the exchange added. "After a quick, one-step passkey setup, they gain access to live token data and can execute trades with the security of self-custody and the advantage of best-price routing across 100+ liquidity pools."
OKX is not the first centralized crypto exchange to integrate onchain trading into its core products. Last month, for instance, Coinbase integrated DEX trading of Base-based assets on its exchange. Binance, the world's largest CEX, also integrated its in-wallet Binance Alpha token explorer with the BNB-based Pancakeswap.
Decentralized exchange trading volume surged to an all-time high of $613.3 billion in October from nearly $500 billion in September, with apps like Uniswap and Pancakeswap notching their largest recorded monthly volumes to date.
OKX's self-custody wallet will reportedly source liquidity across over 100 pools to improve trade execution and also "automatically" create a wallet "when customers activate DEX trading" that can be secured with a passkey.
Similar to other DeFi-integrated wallets like Rainbow or Phanton, customers can now explore DEX tokens directly in their OKX apps by "searching for specific tokens directly through the app's global search bar."
“Traders should use sound risk management and have an understanding of the inherent trade-offs. Because every market has two sides, in DEX trading, buy-side depth can sometimes be limited, especially in the early stages of a token's lifecycle,” OKX noted.
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