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May 13, 2021 Earlier this month, the Chicago Mercantile Exchange (CME), the world’s leading derivatives exchange, launched Micro Bitcoin futures. The Micro Bitcoin futures contract represents one-tenth of one Bitcoin and is based on the CME CF Bitcoin Reference Rate, a once-daily benchmarking of the price of Bitcoin to the US dollar. The contracts are cash-settled. “We are pleased to introduce this new contract at a time when we continue to see consistent growth of liquidity and participation in our crypto futures and options,” said Tim McCourt, CME group global head of equity index ...

CME Group: Micro Bitcoin Futures Surpass 100,000 Contracts Traded Date 11/05/2021 CME Group, the world's leading and most diverse derivatives marketplace, today announced that Micro Bitcoin futures volume surpassed 100,000 contracts in the new contract's first six days of trading. "We are pleased to see strong customer adoption and support for our new Micro Bitcoin futures contract early on," said  Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products. "Together with our existing, full-sized Bitcoin futures, this new, smaller contract further strengthe...

CBDC Paper Released, NY DFS Grants License, Study Cites Crypto Adoption By: The Digital Dollar Project, a partnership created by the Digital Dollar Foundation, released a white paper this week highlighting use cases for a U.S. central bank digital currency (CBDC, or a digital dollar) and proposing several pilot programs for the technology. The pilot programs highlight applications of a digital dollar for various types of consumers, ranging from underbanked consumers to large financial market infrastructure payers. This week, New York’s Department of Financial Services (NY DFS) announced the...

Affirm, a leader in payments, recently announced it would acquire Returnly, a return and post-purchase payments solution, for $300 million. Benzinga spoke with Laura González-Estéfani, the founder and CEO of Miami-based TheVentureCity, on her firm’s role in bolstering Returnly growth initiatives and steps going forward. What Happened: Founded in 1848, CME Group is an exchange that builds markets around derivatives like futures, or agreements to buy and sell assets at a particular price and time in the future. The company has a long-standing history, offering global benchmark products base...

When bitcoin was first launched in 2009, the cryptocurrency was designed as a means for users to exchange money with other parties on an independent, decentralized network with enhanced privacy and no need for a third party. However, thought of as an alternative to gold as a store of value, bitcoin instead gained mainstream traction and popularity as people began speculating on its future value. From the time of its inception in 2009, it took until Jan. 1, 2017, to cross the $1,000 threshold. By the end of 2017, bitcoin’s all-time high was almost $20,000. Although the price of bitcoin incr...