Published May 23, 20242 min read

Web2 Meets Web3: Coinbase Offers Retail Oil and Gold Futures

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artwork image for: Coinbase Launches Oil and Gold Futures: Synergy of Web3 and Web2

In our dynamic era, the Web3 industry is increasingly converging with the world of Web2. Many companies worldwide are harnessing blockchain technology to attract new users and pique their interest in their products. As innovative technologies gain traction, their integration into various sectors is on the rise. Notably, large cryptocurrency companies are also incorporating time-tested products and systems from the Web2 industry into their services, a significant development that our esteemed readers should be aware of.

In today's news article, Coinmooner wants to tell our esteemed readers about one event that opens the doors for Web3 users to the Web2 world. This event will significantly expand the functionality of the system, which is already loved by millions of users worldwide. We are talking about the American cryptocurrency exchange Coinbase announcing the launch of retail futures contracts for oil and gold.

Representatives of Coinbase Derivatives announced that the new product will be available from June 3. This move aims to expand the range of services for exchange users and attract new clients interested in trading traditional assets.


Oil and Gold Futures: Innovative Offering from Coinbase Derivatives

While cryptocurrency derivatives remain the core of their business, Coinbase is proud to announce the launch of new futures contracts for oil and gold. These contracts, covering volumes of 10 barrels of oil and one troy ounce of gold, offer investors unique trading opportunities in traditional markets, a prospect that should pique the interest of our readers and potentially diversify their investments.

Additionally, Coinbase Derivatives, regulated by the U.S. Commodity Futures Trading Commission (CFTC), has offered clients futures on Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Dogecoin since April 1. To launch these new assets, the company used the self-certification procedure under CFTC Regulation 40.2 (a), which allows the introduction of new offerings without waiting for direct regulatory approval, provided all requirements are met. This expansion confirms Coinbase's commitment to bridging the worlds of cryptocurrencies and traditional assets, giving users more trading opportunities.

Coinmooner will closely monitor developments and promptly inform its readers about all aspects and nuances of this highly beneficial update in the Coinbase system. CoinMooner knows the importance of reliable information in the crypto industry. So, It is recommended that our readers refer to verified and authoritative sources to assess any situation and make informed decisions properly.

The cryptocurrency market is highly volatile and fraught with risks, so it is especially important to manage your assets responsibly. We strongly suggest you carefully study all available materials about protecting your funds and use the most advanced cybersecurity methods. The Web3 industry provides many tools to minimize risks, and knowing about them can significantly reduce the likelihood of financial losses and cyberattacks.

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