Coinbase Launches Gold And Silver Perpetual Trading

@Coinbase has officially listed gold and silver perpetual futures contracts, opening continuous commodity exposure to traders outside the United States and marking another step in the exchange's push to bring traditional asset classes into its crypto-native infrastructure.

What the Contracts Offer

Coinbase announced that gold (XAU) and silver (XAG) perpetual futures are now live and available around the clock to both institutional and retail traders in eligible non-US jurisdictions. The contracts are designed to make "24/7 commodity exposure as accessible and capital-efficient as trading crypto perps," according to Coinbase.

SILVER-PERP references 1 spot troy ounce of silver, while GOLD-PERP references 1 spot troy ounce of gold. Both are perpetual contracts with no expiry or rollover, and are settled in USDC, with profit and loss also realised directly in USDC. Traders can access the contracts 24/7 with up to 25x maximum leverage and institutional-grade risk controls. Low minimum order sizes are also built in, allowing traders to scale positions around macro events.

The launch follows Coinbase's earlier rollout of stock perpetual futures and equity index futures, part of a broader strategy to list traditional financial assets alongside cryptocurrency products. The global gold market is estimated at more than $13 trillion, while silver is valued at approximately $1.4 trillion, according to the company.

US Futures Coming Soon

Coinbase said it is working with the Commodity Futures Trading Commission (CFTC) to enable round-the-clock trading and align with the nature of crypto markets. The firm has confirmed that 24/7 US-regulated futures for gold and silver are coming soon, which would extend access to domestic traders currently excluded from the international perpetual contracts.

Coinbase Derivatives, LLC is a Designated Contract Market registered with the CFTC, giving the exchange the regulated clearinghouse infrastructure to offer institutional-grade commodity exposure. The gold and silver perps sit alongside $BTC and other digital assets already trading on the platform, reinforcing Coinbase's goal of running a single, always-on venue for both legacy and digital markets.

The move signals that crypto-native market structure, including 24/7 trading, stablecoin collateral, and perpetual contracts, is increasingly being applied to real-world asset exposure and macro hedging tools, not just Bitcoin and altcoins.

Sources:
FXStreet: Coinbase launches gold and silver perpetual futures trading
StreetInsider: Coinbase launches gold and silver perpetual futures for non-US traders
Coinbase Derivatives: Official product page