Binance launches CEX to DEX trading feature.

CN
1 day ago

Source: Cointelegraph Original: "{title}"

Cryptocurrency exchange Binance has launched a feature that allows trading from centralized exchanges (CEX) to decentralized exchanges (DEX), enabling customers to execute DEX trades using funds in their Binance wallet—without the need for asset bridging or manual transfers.

According to the exchange, customers can acquire tokens on the Ethereum, Solana, Base, and BNB Smart Chain networks using Circle's USDC and other supported stablecoins.

This new CEX to DEX feature is also compatible with other tools on the platform, including Binance Alpha (which allows users to discover emerging tokens in early development stages) and the Binance one-click buy tool.

Integrating the CEX to DEX trading functionality unlocks a smoother user experience and reduces the complexity of exchanging digital assets.

This reduction in complexity addresses the inherent technical barriers to entry in the user experience that make it difficult for new users to interact with digital assets. Complicated user interfaces and clunky user experiences are some of the most frequently mentioned issues in the cryptocurrency space.

A meme mocking the complexity of cryptocurrency. Source: Kev.Eth

In November 2024, the WalletConnect Foundation and Reown established a standard framework for crypto wallets to enhance user experience and promote usability.

Pedro Gomes, director of the WalletConnect Foundation, told Cointelegraph that the wallet standard framework focuses on several key areas, including "minimizing clicks, reducing transaction friction, interoperability, and providing clear and accessible information."

Anurag Arjun, co-founder of Avail (a unified chain abstraction solution) and the Polygon Layer 2 network, also told Cointelegraph that current blockchain abstraction technologies are fragmenting liquidity across the ecosystem.

The Polygon co-founder stated that each blockchain network has its own set of security assumptions, which poses challenges for interoperability; Arjun specifically mentioned that bridging technology is cumbersome for end users.

Sandeep Nailwal, who co-founded Polygon with Arjun, recently expressed similar views, stating that cryptocurrency needs to enhance user experience before achieving mass adoption, comparing the current state of cryptocurrency to the internet in the late 1990s.

Nailwal told Cointelegraph that cryptocurrency needs to adopt smoother fiat on-ramps, better custodial solutions with key recovery features, and hardware wallets built into mobile devices to move beyond the "AOL era" and gain mainstream recognition.

Related: Moving Cryptocurrency Beyond the "AOL Era"—Sandeep Nailwal

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