The recently launched XRP of the CME
The term contracts highlight the international attraction of cryptocurrency, with almost half of its commercial volume occurring outside of American negotiation hours.
The regulated XRP – Standard and micro -tail -to -end term contracts – began to negotiate on the Global Giant Derivatives a week ago, recording a total volume of negotiation of 4,032, worth $ 86.6 million in the first six days of negotiation, said the spokesperson for the Stock Exchange.
The spokesman stressed that “46% of [total] The volume occurred during non-American hours “and almost half of the trading comes from participants outside the United States
The data suggests strong international participation in the term market. XRP is a cryptocurrency focused on payments mainly designed for fast and low-cost cross-border payments.
Ripple, a financial technology company, uses XRP and the XRP LEDGER (XRPL) to facilitate international monetary transfers.
The standard and micro contracts of the CME, sized at 50,000 XRP and 2,500 XRP, respectively, are in cash and based on the CRP-Dollar CRP CF reference rate, which follows the price of the price of the cryptocurrency at 4:00 p.m. London time.
These term contracts allow traders to expose themselves to cryptocurrency without having it.
