Brad Garlinghouse, CEO of Ripple, has voiced support for the Chicago Mercantile Exchange’s (CME) launch of new reference rates and real-time indices for Ripple’s XRP and Internet Computer (ICP), set to commence on July 29.
This initiative aims to provide accurate portfolio valuation information crucial for institutional crypto products.
Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products, highlighted that these new indices are part of a broader effort to provide pricing data for over 93% of the cryptocurrency market capitalization.
The benchmarks will extract pricing data from major exchanges such as Bitstamp, Coinbase, and Kraken. Daily reference rates reflecting the U.S. dollar price of each asset will be published at 4 p.m. London time, while real-time indices will be updated every second, ensuring continuous access to accurate and reliable data.
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