US Derivatives Regulator to Launch Tokenized Collateral Pilot

The US Commodity Futures Trading Commission (CFTC) has announced a "Tokenized Collateral Program" that once launched will let regulated derivatives traders test the use of stablecoins as ￰0￱ initiative is structured as a ￰1￱ will apply to clearinghouses and futures commission merchants operating under CFTC ￰2￱ pilot is intended to assess operational legal

and risk implications of tokenized collateral in derivatives ￰3￱ is scheduled to run for three years with participants required to meet strict risk management and compliance ￰4￱ will be considered for use as collateral due to their central role in digital asset ￰5￱ pilot will not endorse any specific stablecoin or ￰6￱ CFTC will evaluate outcomes before considering expansion or changes to collateral ￰7￱ Rostin Behnam stated the pilot is meant to modernize collateral management while safeguarding financial stability and customer ￰8￱ implemented this will be the first formal CFTC initiative to test stablecoins as collateral in US derivatives markets.