Coinbase has gone live with gold (GOLD-PERP) and silver (SILVER-PERP) perpetual futures, opening access to eligible non-U.S. traders with up to 25x leverage. Both products are settled in USDC, keeping the infrastructure native to crypto rails while tracking two of the world's most closely watched macro assets.
The launch extends Coinbase's derivatives footprint beyond crypto-native instruments into traditional commodities — a move that positions the exchange to capture traders who rotate between digital assets and precious metals during risk-off periods.
On the regulatory front, Coinbase Derivatives is working with the CFTC to shift its existing U.S.-regulated gold and silver futures to 24/7 trading, breaking from the legacy 23/5 schedule. If approved, the transition would bring commodity futures trading hours in line with crypto market conventions for the first time.
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