CME Group Eyes ‘CME Coin’ After JPMorgan Success—Chart Shows Breakout To $320
CME Group (NASDAQ:CME) CEO Terry Duffy revealed the derivatives giant is exploring launching its own crypto that could operate on a decentralized network, as CME stock broke out from an inverse head and shoulders pattern targeting $320.
The ‘CME Coin’ Announcement
Duffy on Wednesday confirmed during the company’s latest earnings call that CME is exploring “initiatives with our own coin that we could potentially put on a decentralized network,” Coindesk reported.
The comment came in response to Morgan Stanley (NYSE:MS) analyst Michael Cyprys asking about tokenized collateral.
Duffy distinguished between collateral sources. “If you were to give me a token from a systemically important financial institution, I would probably be more comfortable than maybe a third or fourth-tier bank trying to issue a token for margin,” he said.
“Not only are we looking at tokenized cash, we’re looking at different initiatives with our own coin,” he added.
The company is already working on a “tokenized cash” solution with Google (NASDAQ:GOOGL) set to launch later this year, involving a …
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