Coinbase will launch Merlin Chain (MERL) perpetual contracts.

Coinbase Markets announced on its X platform that it will launch trading of Merlin Chain (MERL) perpetual contracts. Subject to liquidity conditions, the MERL-PERP market will commence trading in supported regions on or after 17:30 Beijing time on December 18, 2025. Retail traders in some regions can trade perpetual futures through Coinbase Advanced. Institutional investors in some regions can trade perpetual futures directly through Coinbase International Exchange.