Crypto News

CME Group to Launch XRP Futures in May – CryptoMode

The CME Group, the world's leading market market, will add XRP to the lineup of regulated cryptocurrency futures on May 19, subject to regulatory approval.

The move reflects a broader flow of the growing institutional demand for crypto exposure through traditional financial infrastructure. New futures contracts are offered in two sizes: micro contracts of 2,500 XRP and standard 50,000 contracts.

Both will be cash-settle, using the CME CF XRP-dollar reference, which provides a daily XRP price benchmark to the US dollar at 4:00 pm London, according to A Press release. The addition marks the latest expansion of CME crypto offerings, which includes bitcoin and ether futures and options, as well as recently launched solana (SOL) futures.

According to CME, trade volumes in the crypto futures suite are declining. The average daily quantity in Q1 reached 198,000 contracts-equivalent to $ 11.3 billion in a notional value to 141% year-year. Open interest also increased by 83% at the same time.

Giovanni Vicioso, the global leader of CME's cryptocurrency products, said the interest in Ripple's cross-border token has grown next to the adoption of the XRP Ledger-a blockchain known for fast, cheap transactions and use of cross-border payments.

We are pleased to launch new contracts with Futures to provide a great capital toolet to support clients' investment and hedging techniques.

CME XRP Futures are available for retail investors

Retail entrepreneurs will also have access. Robinhood, which offers crypto spot trading, has announced plans to list CME's XRP futures, which enables users to exchange them through its mobile platform.

JB Mackenzie, who leads the futures and international division of the company, called it “natural next step” while retail users are looking for sophisticated tools commonly used by professionals.

Read More: Unable to Change X Surges 42% in the Middle of Gaming and Whale activity

The growing presence of token in traditional finances is also apparent in the ETF market. Sal Gilbertie, CEO of Teucrium, noted that the Teucrium 2x day -day long XRP ETF reached $ 35 million in possessions during the first 10 days of trading.

Other ripple news

Recently, the XRP Foundation revealed what could be a significant security violation throughout the XRP Ledger ecosystem.

As the cryptomode reported, it was a cybersecurity firm that Aikido found weakness, stating that attacks have introduced malicious code in the network's open-source library, used by hundreds of thousands of websites and applications connected to the ecosystem.

As per data from coingecko, the token currently traded at $ 2.21, a 1.4% drop in the last 24 hours. The token went up more than 13.6% in the last two weeks, following a recent rally in the crypto market.

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