Coinbase has expanded its derivatives offerings by launching 24/7 trading of gold and silver perpetual futures through its International Exchange. The move targets eligible non‑US institutional and retail traders, with contracts settled in USDC and leverage of up to 25x. The announcement came on a day when Coinbase’s stock (COIN) fell 1.02% to $195.73, adding pressure during a weak session.
The gold perpetual future (GOLD‑PERP) tracks the spot price of one troy ounce, while the silver contract (SILVER‑PERP) tracks one troy ounce of spot silver. Both avoid expiry and rollover dates common in traditional futures, aligning with Coinbase’s crypto‑style round‑the‑clock market structure. The exchange emphasized that these products are a step toward its vision of an “Everything Exchange,” building on earlier launches of stock and equity index perpetual futures.
Coinbase stated that the new contracts allow traders to gain exposure to precious metals without leaving the digital‑asset ecosystem, using a stablecoin‑denominated P&L. The company is also working with the CFTC to eventually offer similar 24/7 access to eligible US traders. Despite the product expansion, COIN shares dipped intraday, reflecting market caution as the platform pushes deeper into traditional commodity markets.
