CME’s newly launched XRP
Futures emphasizes Cryptocurrency’s international appeal, with almost half of its trading volume occurring outside US trade times.
They regulated XRP-Futures standard and micro-size contracts to trade with Global Derivatives Giant a week ago, and recorded a total trade of 4,032, worth $ 86.6 million in the first six trading days, Exchange’s spokesman told Coindesk.
The spokesman highlighted that “46% of [total] Volume occurred during non-American hours “and almost half of the trade comes from participants outside the US
The data suggests strong international participation in the futures market. XRP is a payment -focused cryptocurrency designed primarily for fast and cheap cross -border payments.
Ripple, a financial technology company, uses XRP and XRP Ledger (XRPL) to facilitate international money transfers.
CME’s standard and micro-contracts dimensioned to 50,000 XRP and 2,500 XRP respectively are cash-based and based on SME CF CRP dollar reference, which tracks Cryptocurrency’s price daily at. 16:00 London Time.
These futures allow dealers to get exposure to cryptocurrency without actually owning it.
