This BTC loan product looks like the first integration of a passkey-based smart wallet in a major CEX.

Next, CEXs will suddenly "list" every DEX-based token using a similar integration.

In the same UI where you buy CEX tokens, you’ll be able to buy any DEX-based token. Exchanges will use DEX liquidity instead of spinning up their own. 

Users will spend from their CEX balance via a “magic spend” feature (no need to transfer balances to an onchain address first), and the purchased token will land in their onchain smart wallet address.
https://x.com/sidrmsh/status/1879905729143873870

“That and we'll continue integrating native DEX support more deeply. Customers shouldn't need to know or care whether the trade is happening on a DEX or CEX.”

We need to rethink our listing process at @coinbase given there are ~1m tokens a week being created now, and growing. High quality problem to have, but evaluating each one by one is no longer feasible. And regulators need to understand that applying for approval for each one is…

Brian Armstrong

“That and we'll continue integrating native DEX support more deeply. Customers shouldn't need to know or care whether the trade is happening on a DEX or CEX.”
https://x.com/brian_armstrong/status/1883329603239899346

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