CME explores launching its own token on a decentralized network

CME Group CEO Terry Duffy said the derivatives exchange operator is exploring the possibility of launching its own token that could run on a decentralized network.

Duffy made the comment during the company’s latest earnings call in response to a question about tokenized collateral. He said CME is reviewing multiple forms of margin, including tokenized cash, and is also evaluating initiatives involving a proprietary “coin” issued by the firm.

CME is already working with Google on a “tokenized cash” solution expected to launch later this year, with a depository bank facilitating transactions. However, the “own coin” Duffy referenced appears to be a separate asset that could potentially be deployed on a decentralized network for broader industry use.

The exchange has not clarified whether the potential token would function as a stablecoin, a settlement asset or another type of digital instrument. Still, Duffy’s remarks mark the first time CME leadership has explicitly floated the idea of a CME-issued asset operating on decentralized infrastructure.

The exploration comes as CME prepares to roll out 24/7 trading for all crypto futures in the coming quarter and plans to introduce new futures contracts tied to Cardano, Chainlink and Stellar. Last year, CME’s average daily crypto trading volume reached $12 billion, with micro bitcoin and micro ether futures among its fastest-growing products.

If launched, CME would join a growing list of traditional finance institutions experimenting with proprietary digital tokens. JPMorgan, for example, has rolled out tokenized deposits via its JPM Coin on Coinbase’s Base network, modernizing how large financial institutions move money on blockchain rails.