Coinbase (COIN) has rolled out decentralized exchange (DEX) trading to users in Brazil just days after the country’s central bank imposed new rules on crypto companies.
The move gives Brazilians access to a significantly wider pool of tokens, expanding from a few hundred to potentially millions, without ever leaving the Coinbase app, The company said in an announcement on Wednesday.
Coinbase already offers DEX Trading for US usersas part of its push to become an “everything app,” a term for an application that offers a range of services on one platform.
The update allows users to exchange base-native tokens the moment after they are minted. Its routes are traded through platforms such as UNISWAP and Aerodrome, eliminating the need for users to interact directly with unfamiliar decentralized protocols.
Users pay no network fees and can manage trades through a built-in self-custody wallet, Coinbase added.
The company also added that “assets identified by a trusted third-party vendor as confirmed malicious or fraudulent assets will not be available,” before pointing out that it does not review access offered through DEX integrations.
Earlier this month, Brazil’s central bank was released A framework that requires crypto service providers to be licensed, report international transactions, and meet capital thresholds of up to $7 million.
The rules bring 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 establish a local entity or risk barrier. While Coinbase’s DEX feature is non-custodial and may fall outside of certain licensing requirements, the bank’s policies also cover self-custody wallets when used for international transfers, which are now subject to monthly reporting.
