- CME Group and CF Benchmarks introduce new crypto indices, Internet Computer and XRP.
- Every second, new indexes are updated with real-time prices for daily settlement and updates.
CME Group announced recently plans to introduce Two new cryptocurrency real-time indexes and reference prices for Internet Computer (ICP). XRP. These indices have been developed in conjunction with CF Benchmarks and aim to enhance transparency and stability in the cryptocurrency price. The indices are expected to be released on July 29th, 2024.
CME Group Introduces new Indices for ICP and XRP
ICPUSD_RR and XRPUSD_RR, the new indexes for daily settlement rates (Internet Computer Dollar Reference Rate and XRP-Dollar Referential Rate), are now available. These indices also show real-time rates that are constantly updated to reflect the current market.
Brad Garlinghouse, CEO of Ripple, has responded to the momentous development by expressing his gratitude. noted It is important to note that the establishment of institutional crypto-goods begins with a consistent rate for reference.
“He added” “It is nice to see CME Group and CF Benchmarks working together on an XRP index. The marketplace has spoken.” Collin Brown, a blockchain researcher, was also enthusiastic about the new technology, calling it “Big Ripple News.”
📊 The Big Picture #Ripple CME Group announces news! CME Group announces transparency in pricing of CME CF Internet Computer Dollar and #XRPDollar Reference Rates are available. 🚀🚀🚀 pic.twitter.com/LRQdI3IJxD
— Collin Brown (@CollinBrownXRP) July 11, 2024
CF Benchmarks ensures accurate and reliable indices for financial markets
This index adheres to strict integrity and accuracy standards according to CF Benchmarks. They hold a UK Financial Conduct Authority license. Market participants can rely on these indices for accurate and reliable information. They are also designed to resist manipulation.
CF Benchmarks gathers all order data for major cryptocurrency exchanges like Coinbase, Kraken and others, to provide complete, accurate and up-to-date price data.
Asset managers and institutional investors are included in this category. financial The new indexes are likely to be used extensively by institutions for many reasons including development. financial Products, Investment Funds, and Derivative Contracts
“Adding these new indices for Internet Computer and XRP aligns with our mission to bring greater transparency and reliability to cryptocurrency markets,” CME group representative:
“We are committed to providing market participants with the tools they need to manage risk and capture opportunities in this rapidly evolving space.”
While the price of XRP currently stands at about $0.451Reflecting a 2.29% The last 24 hour period has seen an increase in the price of CME Group’s products. Investors and traders are optimistic following CME Group’s latest development.
According to our most recent reportThe price of XRP tokens is expected to reach $250 by 2028. CNF is also highlighted Ripple was named as one of CNBC’s Top Fintech Startups for 2024.
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Source: www.crypto-news-flash.com