CME Group, one of the world’s largest derivatives exchanges, is considering issuing its own digital asset, tentatively called CME Coin.
The development is structured as follows. Strategic collaboration with Google. The two companies have been working together for at least five years and aim to develop a “tokenized cash” solution that is expected to be launched at the end of this year.
CME Group CEO Terry Duffy confirmed the initiative is aimed at: Integrate tokenized cash solutions and optimize collateral usage within a decentralized network.
This news was revealed at the company’s financial results conference today, February 4th. The asset will run on a decentralized network, the executive said, without providing further details.
In addition to issuing its own cryptocurrency, CME Group is preparing to expand its financial services offering using digital assets. The company plans to make all crypto futures trading available 24/7. Similarly, the upcoming introduction of new futures contracts for assets such as Cardano (ADA), Chainlink (LINK), and Stellar (XLM) was confirmed.
Although this announcement signals significant progress towards the tokenization of financial assets, “CME Coin” is still in the evaluation stagesubject to regulatory framework and technical infrastructure testing.
If this happens, it would not be the first large traditional financial institution to have its own crypto assets. As reported by CriptoNoticias, American bank JP Morgan launched the digital dollar JPM coin on the Base network (layer 2 of Ethereum) last year.
(Tag Translation) CME Group
