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

The CEO of Wall Street derivatives giant CME Group, Terry Duffy, stated that the company is exploring the possibility of launching its own cryptocurrency token. In response to analysts' questions during the latest earnings call, Terry Duffy mentioned that CME is evaluating various forms of margin and collateral solutions, including tokenized cash, as well as "proprietary tokens that may be launched on decentralized networks for use by industry participants."

He pointed out that compared to tokens issued by small and medium-sized financial institutions, tokens from systemically important financial institutions would be more reassuring when used as margin or settlement tools.

It is reported that CME is currently collaborating with Google to advance a tokenized cash solution, which is planned to be launched later this year, with related transactions completed through a custodian bank. The mentioned "proprietary token" is seen as another independent exploration, and it is not yet clear whether it will be a stablecoin or a settlement token, with CME not providing further clarification.

If the plan ultimately materializes, it will be CME's first explicit proposal to issue proprietary assets on a decentralized network. Previously, among traditional financial institutions, JPMorgan has launched a tokenized deposit solution through JPM Coin. CME also stated that its cryptocurrency derivatives business is still expanding, with plans to achieve 24/7 trading of cryptocurrency futures in the second quarter of this year.