Categories: Market

Google is investing $ 1 billion in CME with a 10-year cloud contract

Google‘s parent company Alphabet has invested $ 1 billion in the Chicago Mercantile Exchange Group (CME), an exchange that manages a wide range of crypto derivative products.

Yesterday was CME announced Alphabet invested $ 1 billion on top of a 10-year strategic partnership with Google Cloud to accelerate the migration of exchanges to the cloud and transform the way global derivatives markets work. Google invested through the company’s irrevocable preferred stock.

“Through this long-term partnership with Google Cloud, CME Group will transform the derivatives market through technology, increase accessibility and create efficiency for all market participants. This partnership will enable CME Group to bring new products and services to market faster, ”said President and CEO Terry Duffy.

CME launched its first Bitcoin futures contract in December 2017.

The average daily volume in CME Bitcoin Futures reached 6,243 contracts with 13,417 open interest (OI) on November 3rd. At the time of publication, the company’s market cap was $ 79.8 billion, making it a major player in the industry.

Source: CME

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Annie

According to Cointelegraph

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Bitcoin Spot ETF Outflows Reach Second Highest in History

Bitcoin Spot ETF Outflows hit $541M on November 4, the second-highest single-day outflow in history.…

1 hour ago

PropiChain’s Token Presale Turns Heads as the First DeFi Platform to Merge NFTs with AI 

The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…

4 hours ago

UK Pension Fund Cartwright Encourages 3% Allocation to Bitcoin Investment

UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…

6 hours ago

Crypto PAC Fairshake Continues to Boost 2026 Election With Support from a16z

a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…

7 hours ago

Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says

Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…

10 hours ago

Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains

Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…

13 hours ago

This website uses cookies.