CME Group, known for its derivatives in the cryptocurrency space, announced plans for 24/7 trading while excluding meme coins from its offerings.
CME's Plans for 24/7 Trading
CME Group is exploring the transition to 24/7 trading for its crypto derivatives as a response to growing trader interest in crypto investments. Currently trading happens from Sunday to Friday with breaks for maintenance, and CME aims to eliminate this downtime.
CME's Stance on Meme Coins
CME will be focused on cryptocurrencies with real use cases such as Bitcoin, Ethereum, Solana, and XRP. Gio Vicioso, the head of cryptocurrency products at CME, noted that meme coins do not align with the company's strategic interests.
The Meme Coin Market and Quick Listings
Despite CME's cautious approach, many crypto exchanges are actively listing meme coins. For instance, the TRUMP token was quickly adopted by eight major exchanges within 48 hours of its launch, showcasing growing interest in speculative assets.
CME Group continues to focus on stable and in-demand cryptocurrencies while steering clear of volatile meme coins. This reflects the company's approach to building a reliable crypto portfolio for its clients.