CME Group is evaluating new digital infrastructure options as it prepares to expand its cryptocurrency trading operations, including the possible launch of an in-house digital token to support around-the-clock trading.
The idea was disclosed by CME Group Chief Executive Officer Terry Duffy during the company’s fourth-quarter earnings call on Feb. 4, in response to a question from a Morgan Stanley analyst. The discussion centered on modernizing margin and settlement systems for crypto derivatives, particularly as digital asset markets operate 24/7.
Duffy said CME is examining the use of tokenized collateral and digital cash instruments, noting that trust and systemic importance will be critical factors. “If you were to give me a token from a systemically important financial institution, I would probably be more comfortable than a lower-tier issuer,” he said, adding that CME is also exploring initiatives involving its own token.
The proposed token—often referred to in industry discussions as a “CME Coin”—would be designed primarily for institutional use, serving as collateral and settlement infrastructure rather than a retail cryptocurrency. Executives framed the project as part of a broader strategy to improve capital efficiency and reduce friction in high-volume derivatives trading.
CME is simultaneously working with Google Cloud on a separate tokenized cash initiative, which is expected to launch later in 2026 and could provide the technical foundation for future digital collateral systems. Company officials emphasized that all token-related efforts remain in the exploratory phase, with no launch date, technical specifications, or regulatory filings announced.
The exploration comes as CME prepares to extend trading hours for its crypto futures and options. Subject to regulatory approval, the exchange plans to introduce full 24/7 trading for cryptocurrency derivatives in the second quarter of 2026, allowing better hedging during weekends and holidays and aligning operations with nonstop spot crypto markets.
CME has steadily expanded its digital asset offerings, introducing futures tied to assets such as Solana and XRP in late 2025. Additional futures for Cardano, Chainlink, and Stellar—offered in both standard and micro contract sizes—are scheduled to launch on Feb. 9.
The company reported strong growth in institutional crypto activity, with average daily trading volume reaching approximately $12 billion in 2025, reflecting rising demand for regulated digital asset products.
