Coinbase to launch gold and oil futures trading

Quick Take

  • Cryptocurrency exchange Coinbase said it will launch retail-sized futures contracts for oil and gold.
  • The launch is slated for June. 

U.S.-based cryptocurrency exchange Coinbase announced it will launch retail-sized futures contracts for oil and gold. The new product will launch as of June 3rd, Coinbase Derivatives said on Tuesday.

"While crypto derivatives remain at the core of our business, we're excited to announce the launch of new futures contracts for oil and gold," the company said in a statement.

Coinbase Derivatives, which is regulated by the Commodity Futures Trading Commission (CFTC) already offers customers bitcoin, ether, bitcoin cash, litecoin, and dogecoin futures, it also said in its statement.

"The new contracts, sized at 10 barrels of oil and 1 troy ounce of gold, aim to offer enhanced trading opportunities in traditional markets," Coinbase said.

In March, the crypto exchange announced it planned to launch monthly cash-settled futures contracts for dogecoinlitecoin and bitcoin cash

 


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RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.

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