Coinbase gold and silver futures are moving precious metals closer to crypto, with 24/7 perps now live for eligible non-U.S. users.
U.S. public crypto exchange Coinbase is bringing gold and silver into the crypto derivatives world, launching perpetual futures for eligible traders outside the U.S.
The two new offerings, GOLD-PERP and SILVER-PERP, represent one troy ounce of spot gold and one troy ounce of spot silver, respectively, according to a May 6 blog post.
These derivatives trade continuously throughout the day and settle in the USDC▼$0.9999 stablecoin, offering maximum leverage of up to 25x.
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Gold and Silver Get the Perp Treatment
Coinbase says the contracts are available to institutions through Coinbase International Exchange and to retail traders through the Coinbase app in supported jurisdictions.
The setup is basically crypto-style metals trading as there’s no expiry date and no rollover.
As such, the products are very different from the conventional futures trading where one works within specified contract periods, trading hours and contract size.
- CME’s benchmark gold futures, for instance, trade Sunday through Friday with a daily break, not straight through the weekend like crypto markets.
For U.S. customers, gold and silver futures “will be available for 24/7 trading on Coinbase Derivatives through participating FCMs and broker platforms, subject to standard maintenance windows and local eligibility requirements,” Coinbase said.
- The launch comes shortly after Coinbase CEO Brian Armstrong said on May 5 that the exchange would reduce headcount by about 14% as it tries to lower costs, deal with a weaker market and rebuild more of the company around AI tools.
- Based on Coinbase’s latest disclosed full-time employee count of 4,951 at the end of 2025, the cut implies roughly 690 roles could be affected.
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