The new product will be launched by an independent exchange division of Coinbase Derivatives, whose operational activities are under the control of the U.S. Commodity Futures Trading Commission (CFTC).
"Cryptocurrency derivatives remain the backbone of our business, but we are pleased to announce the launch of new futures contracts for 10 barrels of oil (NOL) and 1 troy ounce of gold (GLD), which are designed to expand the trading opportunities of our customers in traditional markets," Coinbase said.
Commodity futures will complement the existing set of CFTC-regulated cryptocurrency futures for bitcoin, ether, Bitcoin Cash, Litecoin and Dogecoin.
Coinbase believes that offering all participants access to futures for traditional commodities such as oil and gold is an element of natural evolution associated with the expansion of the range of available exchange products.
Earlier, the directorate of the Coinbase crypto exchange in the Asia-Pacific region announced that the platform is working on creating a service designed for Australian pension funds.