Coinbase Integrates 1inch Swap API for Enhanced Token Swaps
Coinbase is set to integrate 1inch’s Swap API into its platform. This move aims to improve non-custodial token swaps within Coinbase’s decentralized exchange feature.
The integration makes Coinbase 1inch’s largest U.S. client. Scott Shapiro, head of trading at Coinbase, said, “This partnership brings onchain trading closer to our users.” 1inch is a top decentralized exchange aggregator. It finds the best token swap rates across various decentralized exchanges.
With this API integration, Coinbase users can perform onchain swaps from their self-custodied wallets without leaving the app. shapiro believes this could bring “millions of users onchain” by making decentralized exchanges accessible directly through the Coinbase app.
For 1inch, this is a important step in growing its software-as-a-service business. It brings advanced DeFi infrastructure to major platforms. Sergej Kunz, 1inch co-founder, explained that the API aggregates quotes from multiple sources. “Users always get the best execution prices,” he said. “This also reduces the risk of price impact for large trades.”
Coinbase has been expanding its decentralized trading options. Earlier this year, it launched a feature allowing users to access onchain assets through an integrated self-custodial wallet. This move may help Coinbase tap into new revenue channels.
Coinbase CEO Brian Armstrong aims to turn the app into a crypto super app.He wants it to replace conventional banks by providing all types of financial services.”Crypto has the right to become people’s primary financial account,” Armstrong said.
