CME Group, an important market in the derivatives trade for institutions, said it is exploring tokenization as a way to improve the efficiency of the capital market with distributed accounting technology of the United States technological giant.
The two companies plan to start direct evidence with market participants at the end of this year and aim to launch new services in 2026, according to a press release on Tuesday. CME will use the recently introduced universal LEDger from Google Cloud, a programmable private network to prove how digital asset infrastructure can optimize liquidation and compensation.
The movement of the two giants underlines the trend of tokenization to the living red that has captivated cryptographic firms and traditional financial companies. Global asset administrators and banks are increasingly exploring ways to use blockchains rails to move traditional financial instruments such as funds, bonds and other values. They do it to obtain faster, cheaper and all day efficiency and settlements. Tokenized assets could grow to the multiprillonarium market at the end of the decade, according to several reports of the BCG, McKinsey and Bernstein industry.
“As the president and the new administration have encouraged Congress to create historical legislation for the structure of the common sense market, we are pleased to associate with Google Cloud to allow innovative solutions for the digital transfer of low -cost digital value,” said Terry Duffy, president of the CME group and executive director. “Google Cloud Universal Ledger has the potential to offer significant efficiencies for guarantees payments, margin, liquidation and rates as the world advances to trade 24 hours a day, 7 days a week.”
