CME Group (NASDAQ:CME) CEO Terry Duffy revealed the derivatives giant is exploring launching its own crypto that could operate on a decentralized network, as CME stock broke out from an inverse head and shoulders pattern targeting $320.

The ‘CME Coin’ Announcement

Duffy on Wednesday confirmed during the company’s latest earnings call that CME is exploring “initiatives with our own coin that we could potentially put on a decentralized network,” Coindesk reported. 

The comment came in response to Morgan Stanley (NYSE:MS) analyst Michael Cyprys asking about tokenized collateral.

Duffy distinguished between collateral sources. “If you were to give me a token from a systemically…

Read more on Benzinga