Coinbase will market gold and oil futures starting in June – DiarioBitcoin

Gold and oil futures will be traded via Coinbase Derivatives, division for derivatives trading where futures of various cryptocurrencies are also offered.

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• Coinbase will trade gold and oil futures
• This will be done through Coinbase Derivatives
• Cryptocurrency derivatives and futures are traded in this division.
• The measure is intended to attract investors from other sectors

The US-based international exchange, Coinbase, will begin trading retail gold and oil futures contracts, a product that will be available at the beginning of next month through its derivatives site.

Gold and oil futures Coinbase

The announcement was made by the exchange in a statement published on its official page, which reads:

While crypto derivatives remain the core of our business, we are pleased to announce the launch of new futures contracts for oil (NOL) and gold (GLD) on June 3. Our main objective in introducing new futures contracts is to provide diversified markets that facilitate price discovery and risk management.

In accordance with Coinbase, The measure seeks to attract another type of public more linked to traditional markets, so it would be the natural expansion of its products and services by bringing together basic elements of the stock market sector with cryptocurrencies.

The new assets will be available for commercial operations through Coinbase Derivatives, a platform owned by Coinbase regulated by the Commodity Futures Trading Commission (CFTC), through which futures of BTC, ETH, BCH, LTC and DOGE.

“We believe that offering our participants access to futures on traditional commodities like oil and gold, along with crypto products, is a natural expansion of our product suite. “We are eager to see these contracts mature and the liquidity they will provide to retail and institutional investors in a regulated manner,” Indian Coinbase.

Expanding operations

This movement by Coinbase It is part of its expansion plans, where in addition to seeking to establish its operations in other latitudes, it also seeks to expand its catalog of assets available to users.

Recently, the exchange acquired a license to operate as a restricted distributor in Canada, a measure that further consolidates its services in the North American country, considered by several companies as one of the most demanding legislations today.

Back in the US, the exchange is involved in a tense legal battle with the Securities and Exchange Commission (SEC) since in addition to facing a lawsuit for the alleged violation of current laws, he also took the agency to court to demand greater regulatory clarity.

Article by Angel Di Matteo / DailyBitcoin

Picture of Depositphotos

WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.