After the development of the cryptocurrency, we will have to wait to adjust regulatory issues. Additionally, CME Group will expand its cryptocurrency services offering. CME Group, one of the largest derivatives exchanges in the world, is evaluating the issuance of its own digital asset, tentatively called “CME Coin.” The development is framed in a strategic collaboration with Google. Both companies – which have been working together for at least 5 years – are seeking to develop a “tokenized cash” solution that is expected to be launched at the end of this year. Terry Duffy, CEO of the CME Group, confirmed that the initiative seeks integrate tokenized cash solutions and optimize the use of collateral within decentralized networks. The news was revealed today, February 4, during an earnings call. According to the executive, this asset would operate on a decentralized network, although he did not provide further details.
CME Group building in Chicago. Source: Wikipedia. In addition to the launch of its own cryptocurrency, CME Group is preparing to expand its financial services offering with digital assets. The company plans to enable 24/7 trading for all of its cryptocurrency futures. Likewise, the upcoming introduction of new futures contracts for assets such as cardano (ADA), chainlink (LINK) and stellar (XLM) was confirmed. Although the announcement suggests significant progress towards the tokenization of financial assets, the implementation of “CME Coin” is still in an evaluation phasesubject to regulatory frameworks and technical infrastructure tests. If this happens, it would not be the first large traditional financial institution to have its own crypto asset. As BitcoinDynamic has reported, the American bank JP Morgan launched its digital dollar, JPM Coin, last year on the Base network (a layer 2 of Ethereum).
