CME Group CEO: Exploring the launch of its own cryptocurrency token, "CME Coin"

Terry Duffy, CEO of Wall Street derivatives giant CME Group, stated that the company is exploring the possibility of launching its own crypto token. Responding to analyst questions during a recent earnings call, Duffy said CME is evaluating various forms of margin and collateral solutions, including tokenized cash and "a proprietary token that could potentially be launched on a decentralized network for use by industry participants." He pointed out that tokens from systemically important financial institutions are more reassuring as margin or settlement instruments compared to tokens issued by smaller financial institutions. CME is reportedly already working with Google on a tokenized cash solution, planned for launch later this year, with transactions completed through a custodian bank. The "proprietary token" mentioned is considered a separate exploration; whether it will be a stablecoin or a settlement token is unclear, and CME has not provided further details. If this plan is ultimately implemented, it will be the first time CME has explicitly proposed issuing its own assets on a decentralized network. Previously, among traditional financial institutions, JPMorgan launched a tokenized deposit solution through JPM Coin. CME also stated that its crypto derivatives business is still expanding, with plans to offer 24/7 trading in crypto futures in the second quarter of this year. (Coindesk)