Coinbase launches USDC-settled gold and silver perpetual futures with up to 25x leverage for eligible non-U.S. traders.
Coinbase has expanded its derivatives offering with gold and silver perpetual futures for eligible non-U.S. traders.
The products, GOLD-PERP and SILVER-PERP, are settled in USDC and offer leverage of up to 25x.
The launch adds precious metals exposure to Coinbase’s global derivatives platform, while the company also seeks to move U.S. gold and silver futures toward 24/7 trading.
Coinbase Adds GOLD-PERP and SILVER-PERP Contracts
Coinbase has launched GOLD-PERP and SILVER-PERP perpetual futures for eligible users outside the United States. The products give traders access to gold and silver price moves through crypto-style derivatives.
The contracts are settled in USDC, which keeps margin and settlement within a dollar-linked digital asset.
They also have no expiry date, so traders can hold positions without rolling contracts.
Coinbase has launched gold (GOLD-PERP) and silver (SILVER-PERP) perpetual futures for eligible non-U.S. traders. These USDC-settled products offer up to 25x leverage. Additionally, Coinbase Derivatives is working with the CFTC to transition its regulated U.S. gold and silver…
— Wu Blockchain (@WuBlockchain) May 7, 2026
The exchange said the products offer up to 25x leverage. This allows traders to gain larger market exposure with less upfront capital, but it also raises risk.
Gold and silver are widely used in macro trading. They are often watched during periods of inflation, rate changes, and geopolitical stress.
Coinbase Seeks 24/7 U.S. Metals Futures Trading
Coinbase Derivatives is also working with the Commodity Futures Trading Commission on U.S. metals futures.
The company aims to move regulated gold and silver futures toward 24/7 trading.
That change would move the products away from the current 23/5 market structure. It would also bring regulated U.S. commodity futures closer to crypto’s always-on model.
The plan applies to Coinbase’s CFTC-regulated derivatives exchange for U.S. users. It would not be the same as the offshore perpetual futures products.
Coinbase reported that commodity volume on its CDE crossed $52 billion notional in the first quarter of 2026.
The figure shows rising activity in regulated commodity-linked products.
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Gold and silver markets have an estimated combined value of about $14.4 trillion.
Coinbase’s move links these markets with crypto trading tools and USDC settlement.
The products may support continuous hedging for global traders. They may also help users build cross-asset strategies across crypto, metals, and macro markets.
At the same time, leverage can increase losses during volatile periods. A 25x position can move quickly against traders when gold or silver prices shift.
Coinbase launches GOLD-PERP and SILVER-PERP perpetual futures for eligible non-US traders, with 24/7 gold/silver futures coming soon on its CFTC-regulated CDE for US users. Products feature USDC settlement, up to 25x leverage, low minimums, and no expiry.
Key trend: Aligning…
— unfolded. (@cryptounfolded) May 7, 2026
Regulatory treatment may also vary by country. Coinbase has limited the perpetual futures to eligible non-U.S. traders, while U.S. products remain under CFTC oversight.
The launch shows how exchanges are testing traditional assets on crypto market rails. Gold and silver are no longer limited to standard market hours in this format.
Coinbase’s GOLD-PERP and SILVER-PERP products place precious metals beside crypto assets in a single trading setup.
The move may support broader use of USDC-settled derivatives across global markets.
