Major decentralized exchange dYdX is preparing to launch its U.S. platform before the end of the year.
According to a Reuters report published on Oct. 30, the exchange plans to introduce spot trading for Solana (SOL) and other cryptocurrencies, expanding its reach into the United States for the first time.
Expanding Access and Lowering Fees
Eddie Zhang, president of dYdX, told Reuters that the move is key to the platform’s long-term vision and comes as the U.S. becomes more open to digital assets under the Trump administration. The exchange will cut trading fees by up to half, to between 50 and 65 basis points, once it launches locally.
Founded in San Francisco, dYdX has processed over $1.5 trillion in cumulative trading volume since its inception. It specializes in perpetual contracts, which allow traders to speculate on cryptocurrency prices without owning the underlying assets. These derivatives will not be available initially in the U.S., though the company hopes regulators will later approve decentralized perpetuals for domestic users.
In a joint statement last month, the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission said they may consider allowing perpetual contracts on regulated trading platforms, a move that could open the door for future approval.
dYdX Product Growth and Platform Evolution
The planned U.S. debut follows an active year for dYdX, marked by product expansions, governance updates, and incentives aimed at increasing user engagement. In September, the platform acquired Pocket Protector to enable Telegram-based trading, tapping into Telegram’s 900 million users.
The exchange has also extended its “Unlimited” and “MegaVault” programs, enabling permissionless listings for developers and supporting more than 170 assets across several chains. Earlier this year, dYdX ended its Ethereum-based bridge following a governance vote, consolidating liquidity under its native chain.
While its ongoing Surge rewards program has disbursed more than $20 million in incentives, recent integrations with THORWallet, CoinRoutes, and Skip Protocol have enhanced market execution and deposit speeds.
By combining new technology, lower fees, and a U.S. presence, dYdX aims to position itself as a decentralized alternative to centralized exchanges like Coinbase and Kraken, offering traders more control and fewer intermediaries.