The US Commodity Futures Trading Commission (CFTC) has launched an initiative to allow the use of tokenized assets, particularly stablecoins, as collateral in derivatives markets.
The move, which has garnered support from key leaders in the cryptocurrency industry, would treat stablecoins, such as USDC and Tether, similarly to traditional forms of collateral, such as cash or Treasury bonds.
CFTC Acting Chair Caroline Pham announced the proposal on Tuesday, stating that the agency will "work closely with stakeholders" and solicit public comments until October 20.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange
"The public has spoken: tokenized markets are here, and they are the future," Pham said, reiterating her view that collateral management is the "killer app" for stablecoins.
The proposal builds on the GENIUS Act, signed into law by President Trump in July, which established a regulatory framework for payment stablecoins.