CME Group is exploring initiatives that could include issuing its own digital coin on a decentralized network, as the derivatives exchange evaluates new ways to improve settlement and collateral efficiency without increasing risk.
The comments came during the company’s fourth-quarter 2025 earnings call on Wednesday, when Chairman and CEO Terry Duffy discussed CME’s evolving approach to tokenized assets, digital settlement, and margin efficiency.
CME Evaluates Issuing A Digital Coin Alongside Tokenized Cash
Duffy raised the possibility of issuing a proprietary coin while responding to analyst questions about tokenized collateral and the role of digital assets in clearing and settlement.
He said CME is already working on a tokenized cash initiative that will launch later this year in partnership with a depository bank and Google Cloud.
Alongside that effort, Duffy said CME is also examining whether issuing its own coin could serve industry participants by improving capital efficiency and settlement processes.
Risk Controls Remain Central To Any Token Initiative
Duffy emphasized that CME would not compromise its risk standards in pursuing digital asset initiatives.
He said the exchange would evaluate any token based on who issues it, the associated risk profile, and whether it can be appropriately haircut for margin purposes.
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Tokens issued by systemically important financial institutions, he said, would be treated differently from those issued by smaller or less established entities.
CME would not accept digital assets it cannot fully assess or control, reinforcing its traditionally conservative approach to market infrastructure.
Part Of A Broader Push To Modernize Market Infrastructure
The exploration of a digital coin comes as CME expands several infrastructure initiatives aimed at improving efficiency across markets.
The exchange is preparing to launch CME Securities Clearing, extend cross-margining with FICC to end clients, and introduce 24/7 trading for cryptocurrency products in 2026.
CME has also been increasing its focus on digital assets more broadly.
Cryptocurrency trading volumes at the exchange nearly doubled in 2025, with executives noting continued momentum into early 2026.
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