As a researcher with experience in the cryptocurrency market, I’m thrilled about CME’s new initiative to provide reference rates and real-time indices for XRP and Internet Computer (ICP). This is an essential first step towards institutional adoption of these digital assets.
As a crypto investor, I’m excited about the upcoming development at the Chicago Mercantile Exchange (CME). Brad Garlinghouse, the CEO of Ripple, has expressed his approval for CME’s introduction of new reference rates and real-time indices for XRP and Internet Computer (ICP), starting from July 29. This move will bring more transparency and efficiency to the crypto market.
“This undertaking is designed to deliver precise portfolio valuation data essential for creating institutional-grade crypto investment offerings.”
It’s great to see the first move toward establishing institutional-grade cryptocurrency products: setting a reliable benchmark reference rate. Kudos to CME Group and CF Benchmarks for teaming up to create an XRP index. The market’s demand is clear.— Brad Garlinghouse (@bgarlinghouse) July 11, 2024
As a researcher focusing on the latest developments in the cryptocurrency market, I’d like to share an insight from Giovanni Viciuso, the Global Head of Cryptocurrency Products at CME Group. He emphasized that the new indices they’re introducing are part of a larger initiative aimed at delivering pricing data for approximately 93% of the total cryptocurrency market capitalization.
The benchmarks will pull pricing information from significant exchanges like Bitstamp, Coinbase, and Kraken. Every day, the reference rates representing each asset’s U.S. dollar value will be released at 16:00 London time. Moreover, real-time indices will be updated every second to ensure uninterrupted access to current and trustworthy data.
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2024-07-12 05:56