Key Highlights
- Coinbase introduces GOLD-PERP and SILVER-PERP contracts for global traders.
- Contracts are USDC-settled and perpetual and offer up to 25x leverage.
- It is available via Coinbase International Exchange for non-U.S. users.
Crypto exchange Coinbase today launched gold and silver perpetuals on its advanced trading platforms. The move brings two traditional stores of value onto its crypto-native derivatives infrastructure, allowing traders to access these assets with the same 24/7 availability and capital efficiency as crypto perpetuals.
According to the official release, the new perpetual contracts are available to eligible non-US retail and institutional traders. It is offered via Coinbase International Exchange (via Coinbase Bermuda Ltd., licensed by the Bermuda Monetary Authority) and Coinbase Advanced.
Both contracts are linear, USDC-settled perpetual futures having no expiry dates. GOLD-PERP refers to one troy ounce of gold, while SILVER-PERP refers to one troy ounce of silver. Traders can access up to 25x leverage, low minimum order sizes, and complete order book functionality comprising limit, market, stop, and stop-limit orders.
For US traders, gold and silver futures are available so far on the CFTC-regulated Coinbase Derivatives (CDE) platform. The platform is working with regulators to transition these to 24/7 trading, which would align precious metals markets with the always-on nature of crypto for the first time in US futures history.
Why traditional assets?
Gold and silver continue to be important global commodities, with the gold market alone valued at over $13 trillion. With geopolitical instability, inflation worries, and the ongoing purchases by central banks, demand for these safe-haven commodities continues to soar.
The new product offers smaller contract sizes, USDC settlement, and integration into crypto portfolios. The launch is part of Coinbase’s larger plan to grow its derivatives business, which currently includes crypto perps, stock perpetuals, equity index futures, and conventional commodities. In the first quarter of 2026, notional volume of CDE’s commodity futures surpassed $52 billion.
Recent layoffs
The move comes just a day after Coinbase laid off around 14% of its workforce, more than 700 employees, reportedly without transition periods.
The layoffs are of special concern for Indian employees, whether those residing in India or having H-1B visas in the United States. In addition to the compensation that will be provided to US-based employees, including 16 weeks of base salary plus an extra two weeks per year of service, the next equity vesting, and health insurance for six months via COBRA, little is known about the arrangements for Indian workers, other than “comparable packages.”
CEO Brian Armstrong acknowledged the move would feel “sudden and harsh,” offering vague “additional transition support” for visa holders, leaving many anxious about their immigration status.
A diversified approach
The offering allows crypto-native traders to diversify into traditional commodities without leaving the Coinbase ecosystem, while commodity traders gain access to continuous liquidity and programmable settlement features. Futures trading for US citizens will now be possible via approved Futures Commission Merchants (FCMs) and brokers.
Traders should be aware that derivatives trading is accompanied by a high risk of loss. It may not suit all investors, as profits and losses are both magnified by leverage. Coinbase’s move clearly signifies the company’s intention to become the leader in bridging the gap between traditional and crypto finance.
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