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 significantly broader pool of tokens, expanding from a few hundred to potentially millions, without leaving the Coinbase app, the company said in an announcement on Wednesday.
Coinbase already offers DEX trading for users in the U.S., as part of its push to become an “everything app,” a term for an application that offers a range of services in one platform.
The update allows users to trade Base-native tokens moments after they’re minted. It routes trades through platforms like Uniswap and Aerodrome, removing the need for users to interact directly with unfamiliar decentralized protocols.
Users don’t pay network fees and can manage trades through a built-in self-custody wallet, Coinbase added.
The company also added that “assets that are identified by a trusted third-party vendor as confirmed malicious or fraudulent assets will not be available,” before pointing out it doesn’t review the access being 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 bring crypto activities under Brazil’s foreign exchange and capital markets regime and give firms nine months to comply.
Foreign platforms serving Brazilian users, including Coinbase, must establish a local entity or risk being barred. While Coinbase’s DEX feature is non-custodial and may fall outside some licensing requirements, the bank’s rules also cover self-custody wallets when used for international transfers, which are now subject to monthly reporting.