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 dogecoin, litecoin and bitcoin cash. 

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