Coinbase Launches Gold and Silver Perpetual Contracts, Supporting Up to 25x Leverage

BlockBeats News, May 6th, according to an official announcement, Coinbase has announced the launch of gold and silver perpetual futures contracts, open for trading to eligible non-U.S. users. GOLD-PERP corresponds to 1 troy ounce of spot gold, SILVER-PERP corresponds to 1 troy ounce of spot silver, both settled in USDC, supporting 7x24h trading, and offering up to 25x leverage. Institutional users can trade on the Coinbase International Exchange, while retail users can participate through the Coinbase website and App.

Coinbase stated that this is part of its "traditional financial assets on-chain" strategy, aiming to build an "Everything Exchange" that covers cryptocurrency, traditional assets, and new products simultaneously. In addition, Coinbase mentioned that it is working with the CFTC to expand gold and silver futures trading in the U.S. market to operate 7x24h. The company believes that this will support weekend hedging, continuous price discovery, and cross-asset strategy trading.