CME Group's Tim McCourt Praises the Utility of XRP Token, Claiming That It Has "a Really Strong" Use Case

During an interview with futures trading veteran Anthony Crudele, CME Group's Tim McCourt praised the utility of the Ripple-linked XRP token, claiming that it has "a really strong" use case.

In an interview with futures trading veteran Anthony Crudele, CME Group’s Tim McCourt has praised the utility of the Ripple-linked XRP token, saying that it has “a really strong” use case.

“And when we also looked at XRP, it’s a similar story where it has a really strong use case,” McCourt said.

According to him, the XRP Ledger is capable of processing 1,500 transactions per second.

What’s more, the XRP token is very actively traded in the spot market, McCourt said.

As U.Today reported, CME Group introduced XRP futures on May 19 after launching a similar product for Solana (SOL) earlier this year.

The products were launched in response to “clearly articulated customer demand,” McCourt said.

During the interview, he noted that the crypto space is maturing, and CME aims to provide the necessary infrastructure for this evolution.

The Chicago-based derivatives giant launched both standard and micro XRP contracts.

“I think this might be the first time we’ve listed both flavors or both sizes of a contract at the same time,” McCourt added.

According to him, it speaks to a wide range of demand (among both institutional and retail investors).

With XRP futures, the derivatives giant has also offered various transactional handshakes and mechanisms that are already available for other ETFs.

According to McCourt, the regulated futures will be critical infrastructure for exchange-traded products.