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CME Group and CF Benchmarks Floats BTC and ETH Reference Rates in APAC
The world’s leading derivatives platform, CME Group Inc (NASDAQ: CME) has partnered with CF Benchmarks to launch Bitcoin (BTC) and Ethereum (ETH) reference rates, cementing crypto’ growing significance in the Asia-Pacific (APAC) region.
CME Group stated in a press release that the two new reference rates, CME CF Bitcoin Reference Rate APAC and the CME CF Ether-Dollar Reference Rate APAC will go live on September 11. These reference rates will offer a once-a-day snapshot of the US dollar price of Bitcoin and Ethereum, respectively, at 4 p.m. Hong Kong/Singapore time.
Giovanni Vicioso, Global Head of Crypto Products at CME Group, emphasized the importance of these reference rates in the context of the crypto ecosystem. “These new reference rates are designed to meet the ever-evolving needs of global participants in the growing digital asset space,” Vicioso stated.
It is worth mentioning that CME Gr
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