CME's 24/7 crypto futures go live with Ripple Prime as clearing partner

CME Group began 24/7 cryptocurrency futures and options trading on May 29, with Ripple Prime acting as a day-one clearing and financing partner for the expanded market.

"The infrastructure was built to meet demand for around-the-clock digital asset management," Noel Kimmel, President of Ripple Prime, said.

During the first weekend of continuous operations, CME reported 7,200 contracts traded, representing roughly $50 million in notional value. The first block trade occurred Sunday, May 18, cleared by Hidden Road, the brokerage firm Ripple acquired and rebranded as Ripple Prime. XRP futures became the fastest contracts on CME to reach $1 billion in open interest, hitting that milestone in three months.

The move extends regulated derivatives access to match crypto's native 24/7 trading cycle, a structural shift that pressures traditional clearing and settlement systems to operate beyond business-day workflows. CME said client demand drove a record $3 trillion in notional crypto futures and options volume in 2025.

Ripple Prime's role as a clearing partner addresses a critical gap in the 24/7 model: settlement infrastructure. Traditional clearing processes pause outside banking hours, creating a liquidity gap between the exchange and institutional balance sheets. By settling weekend trades through its own infrastructure, Ripple Prime enables institutional clients to execute on CME Globex without waiting for Monday morning clearing desks.

The launch follows a broader shift in crypto market structure. CCData's January 2026 Exchange Review showed combined centralized exchange volumes of $5.26 trillion, with derivatives accounting for the majority of activity. CME's expansion into continuous trading reflects growing institutional demand for risk management tools that operate on crypto's clock, not Wall Street's.

This article is for informational purposes only and does not constitute investment advice.