Coinbase Launches Gold & Silver Perps to Tap $14.4T Metals Market, Diversify Revenue

Coinbase has launched GOLD-PERP and SILVER-PERP perpetual futures for non-U.S. traders, strategically expanding into the $13 trillion gold and $1.4 trillion silver markets to boost derivatives revenue amid strong Q1 2026 volume of $52 billion. Announced May 6, 2026, the USDC-settled, one-troy-ounce contracts offer 24/7 trading, up to 25x leverage on gold (20x silver), and no expiry for retail via app and institutions via exchange. Coverage on May 7 noted rising tokenized gold reserves (36% to 707,747 oz, $3.3B), while May 8 reports highlight growth potential despite COIN's 16.2% YTD share drop.