CME Group Looks to Launch Token to Back Margin for Crypto Derivatives

TLDR

• CME may launch a coin for use in crypto derivatives collateral systems.

• CME and Google are working on a tokenized cash solution for 2026.

• 24/7 crypto futures trading is set to begin in Q2 2026, pending approval.

• CME averaged $12 billion in crypto trading volume daily in 2025.

CME Group is considering the launch of a proprietary digital token as part of its growing focus on blockchain-based settlement tools. CEO Terry Duffy shared the plans during the company’s fourth-quarter earnings call on February 4, in response to questions about collateral management for crypto derivatives.

The token would form part of CME’s broader infrastructure development for margin and settlement. Duffy said the company is

No technical details or launch timeline have been released, and CME has not confirmed whether the token would function as a stablecoin or as a settlement asset.

Tokenized Collateral and Google Partnership

The planned CME token is linked to the company’s exploration of tokenized collateral for crypto derivatives trading. This review is taking place as CME adapts to the 24/7 nature of digital asset markets.

Duffy stated that tokenized margin would be better trusted if issued by large financial institutions.

CME is also collaborating with Google Cloud on a separate “tokenized cash” solution that will involve a depository bank. That system is expected to be released later in 2026 and may provide the foundation for future token-based settlement infrastructure.

The firm confirmed that the coin mentioned by Duffy is separate from the tokenized cash initiative. Both projects aim to improve capital efficiency and reduce friction in high-volume derivatives trading.

Crypto Futures Expansion and 24/7 Trading Plan

CME’s interest in launching its own coin comes as it prepares to expand its digital asset products and trading hours. The company announced that 24/7 crypto futures trading will begin in the second quarter of 2026, subject to regulatory approval.

This expansion will allow traders to hedge positions across weekends and holidays, better aligning with the nonstop operations of spot crypto markets.

CME plans to launch futures contracts for Cardano, Chainlink, and Stellar on February 9. These products will be available in both standard and micro contract sizes.

Growing Institutional Demand for Crypto Products

CME has reported increased interest in regulated crypto products among hedge funds and market makers. This demand is supporting the company’s strategy to modernize its crypto infrastructure.

In 2025, CME achieved an average daily crypto trading volume of $12 billion. Its micro-bitcoin and micro-ether contracts were among its most actively traded products.

The firm previously launched futures linked to Solana and XRP. The addition of more altcoin-linked futures further expands its offering for institutional clients.

The new token initiative, if implemented, would place CME among traditional finance players entering tokenized finance. JPMorgan recently launched tokenized deposits using its JPM Coin on Coinbase’s Base blockchain.

While no final decision has been made, CME’s move reflects the wider trend of established financial firms developing blockchain-based solutions to modernize trading infrastructure.

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