CME Group on Thursday said it would introduce XRP futures on its derivatives marketplace for clients next month.

The new product will allow clients to trade both a micro-sized contract of 2,500 XRP, and a larger-sized contract of 50,000 XRP.

XRP is the fourth biggest cryptocurrency by market cap and was recently trading for $2.19 per coin after a 4% 24-hour dip, according to CoinGecko.

CME Group is the world's biggest derivative marketplace. Futures are a type of contract allowing an investor to buy or sell the underlying asset at a given price at a predetermined expiration date.

This story will be updated. 

Edited by James Rubin

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