Coinbase(US:COIN) Sou Hu Cai Jing·2025-08-11 08:02Core Insights - The cryptocurrency sector is witnessing significant advancements with Coinbase officially launching decentralized exchange (DEX) features in its app, enhancing user trading options and intensifying competition in the DEX space [1] - XBIT decentralized exchange platform supports cross-chain swaps for DOGE across 12 public chains, achieving a market share of 58% with a trading slip of just 0.15% [1] User Experience and Security - Coinbase's DEX feature addresses user challenges such as cumbersome asset transfers and high trading slips, allowing U.S. users (excluding New York) to trade Base network assets directly with reduced operational barriers [2] - XBIT emphasizes user autonomy and privacy by implementing a no-KYC model, enabling users to trade without submitting personal information, thus mitigating risks of data breaches [2] - Both platforms prioritize asset security, with Coinbase employing a malicious asset screening mechanism and XBIT utilizing zero-knowledge proof technology to ensure transaction data privacy [3] Industry Collaboration and Compliance - Coinbase has expressed interest in multi-chain ecosystems, contrasting with XBIT's established compatibility with 12 major public chains and its collaboration with Chainlink for reliable on-chain data interaction [5] - XBIT plays a role in compliance technology integration and liquidity support in its partnership with financial technology firm ZeroHash, ensuring adherence to AML and KYC standards for fiat and crypto exchanges [5] Market Trends and Innovations - The shift in user preferences from merely functional features to a focus on operational experience and yield efficiency is evident, with XBIT's liquidity mining accelerator responding to this demand [7] - The introduction of a dynamic APY adjustment mechanism by XBIT has attracted 500,000 new users in its first month, with a user retention rate 27% higher than the industry average [7] - XBIT's new institutional channel offers high-speed API interfaces and customized market-making services, complementing Coinbase's decentralized initiatives and driving the evolution of DEX from an optional to a necessary choice for global crypto users [8]