Jan 06, 2023 05:05
<p class="MsoNormal">The derivatives marketplace operator, CME
Group, and cryptocurrency benchmark indices provider, CF Benchmarks, will
launch three new Metaverse reference rates and real-time indices on January 30,
the firms announced on Thursday. </p><p class="MsoNormal">The benchmarks, which will be
calculated and published daily by CF Benchmarks, will provide “accurate and
resilient pricing data” for tokens linked to the Axie Infinity (AXS), Chiliz
(CHZ) and Decentraland (MANA) Metaverse-based platforms. The benchmarks will be
published as non-tradable futures products, the firms stated.</p><p class="MsoNormal">“Each of the new Axie Infinity, Chiliz,
and Decentraland benchmarks will be calculated with pricing data from a minimum
of two of these exchanges – Bitstamp, Coinbase, Gemini, itBit, Kraken, and LMAX
Digital,” the firms disclosed in a statement, adding that the benchmarks will be
based on “robust methodologies” and will be regularly vetted by experts.</p><p class="MsoNormal">In addition, the firms noted that each
benchmark will provide the US dollar price of each digital asset. These prices
will be “published once-a-day at 4 pm London time,” CME Group and CF
Benchmark said, noting that each index will be published
around-the-clock.</p><p>Check out this FMLS22 session on Metaverse and trading.</p><p class="MsoNormal text-align-justify">CME Group and CF Benchmark Aim for
‘Transparent, Regulated and Round-the-Clock Pricing’</p><p class="MsoNormal">Giovanni
Vicioso, CME's Group Global Head of Cryptocurrency Products, noted that the
cryptocurrency industry has continued to see increased interest in <a href="https://www.financemagnates.com/cryptocurrency/the-metaverse-is-misunderstood/" target="_blank" rel="follow">Metaverse
projects</a>. </p><p class="MsoNormal">"With increased price transparency
across more cryptocurrency products, market participants will be able to price
sector-specific portfolios, <a href="https://www.financemagnates.com/cryptocurrency/can-the-metaverse-facilitate-sustainable-growth-of-decentralized-finance-defi-systems/" target="_blank" rel="follow">develop structured products</a> with greater confidence
and manage price risk around various Metaverse-based projects,” Vicioso
explained. </p><p class="MsoNormal text-align-justify">Also speaking, Sui Chung, the CEO of CF Benchmarks, expressed excitement at being able to provide investors with
exposure to all types of digital assets through high benchmarking standards.</p><p class="MsoNormal">"These benchmarks will provide
accurate and resilient pricing data for tokens linked to the Metaverse, an
exciting new scion of crypto where properties and communities can exist wholly
within a virtual realm," Chung added.</p>
This article was written by Solomon Oladipupo at www.financemagnates.com.
World Crypto Global
