Crypto exchange Coinbase has filed an application with the US Commodity Futures Trading Commission (CFTC) to introduce futures contracts for Ripple's XRP token.
The company expects the contract to be available on April 21.
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According to the certification filing, the XRP futures contract will be monthly, cash-settled and traded on margin under the symbol XRL.
The contract, settled in US dollars, tracks the price of XRP. Each contract represents 10,000 XRP, currently valued at about $20,000, and each token is priced at $2.
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Contracts can be traded for the current month and for the following two months.