CME Group is exploring the launch of "CME Coin" and is partnering with Google to pilot tokenized cash.

PANews reported on February 5th that, according to CME Group CEO Terry Duffy's remarks during the company's latest earnings call, the company is exploring the launch of its own cryptocurrency, "CME Coin," and plans to deploy it on a decentralized network for use by industry participants. This is the first time CME has explicitly mentioned the possibility of issuing its own token.

Duffy stated that this initiative is part of CME's exploration in the tokenized collateral space, and the company is also collaborating with Google to develop a "tokenized cash" solution, expected to launch later this year. This solution will involve banks acting as custodians to facilitate transactions.

Currently, CME has not clarified whether "CME Coin" will be used as a stablecoin, settlement token, or for other purposes. Duffy added that the market may have higher trust in it compared to tokens issued by systemically important financial institutions.

Furthermore, CME plans to launch 24/7 trading services for cryptocurrency futures in the second quarter of this year, and add futures contracts for Cardano, Chainlink, and Stellar. CME's daily cryptocurrency trading volume is projected to reach $12 billion by 2025, with micro Ethereum and Bitcoin futures performing particularly well.