Coinbase will launch MERL perpetual contracts

Coinbase announced that it will launch the MERL perpetual contract on December 18, 2025. If liquidity conditions are met and in regions that support trading, the MERL-PERP market will open at or after 9:30 AM UTC.

Retail traders can trade through Coinbase Advanced in specific jurisdictions, while institutional investors can trade directly on the Coinbase International Exchange in specific jurisdictions.