Markets, News The contracts are set to debut on May 19, pending regulatory approval.
CME Group is rolling out XRP futures on May nineteenth because it continues to broaden its suite of cryptocurrency merchandise, the world’s largest derivatives trade, mentioned in a press release.
Pending regulatory approval, merchants will be capable of commerce two contract sizes: 2,500 XRP and 50,000 XRP. The contracts shall be cash-settled and primarily based on the CME CF XRP-Dollar Reference Rate, which tracks XRP’s worth day by day at 4:00 p.m. London time.
“As innovation in the digital asset landscape continues to evolve, market participants continue to look to regulated derivatives products to manage risks across a wider range of tokens,” Giovanni Vicioso, world head of cryptocurrency merchandise at CME Group, mentioned.
“Interest in XRP and its underlying ledger (XRPL) has steadily increased as institutional and retail adoption for the network grows, and we are pleased to launch these new futures contracts to provide a capital-efficient toolset to support clients’ investment and hedging strategies.”
The transfer comes after CME launched Solana (SOL) futures in March along with bitcoin (BTC) and ethereum (ETH) futures and choices which have been buying and selling on the trade for some time.
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