CME Group deploys XRP’s term contracts on May 19, while he continues to extend his suite of cryptocurrency products, said the largest exchange of derivatives in the world, in a press release.
Pending regulatory approval, merchants will be able to exchange two contract sizes: 2,500 XRP and 50,000 XRP. The contracts will be in cash and based on the reference rate CF CF XRP-Dollar, which follows the price of the price of XRP at 4:00 p.m. London time.
“While innovation in the landscape of digital assets continues to evolve, market players continue to focus on regulated derivative products to manage risks in a wider range of tokens,” said Giovanni Vicioso, global manager of cryptocurrency products at CME Group.
“The interest in XRP and its large underlying book (XRPL) has regularly increased as the institutional and retail adoption of the network increases, and we are happy to launch these new term contracts to provide a set of economical capital tools to support investment and customer coverage strategies.”
This decision comes after CME launched the term contracts on Solana (soil) in March in addition to term contracts and Bitcoin (BTC) and Ethereum (ETH) options that are negotiated on exchange for a while.
