U.S. CFTC Advances Tokenized Collateral Initiative with Stablecoin Focus in Derivatives Markets
The Commodity Futures Trading Commission (CFTC) is spearheading a new initiative to integrate tokenized collateral—particularly stablecoins—into derivatives markets. Acting Chair Caroline Pham emphasized the potential for blockchain technology to modernize collateral management and boost capital efficiency. "These innovations will unlock U.S. economic growth by enabling smarter allocation of capital," Pham stated during the crypto CEO Forum.
The initiative aligns with the GENIUS Act and responds to declining demand for Treasury bonds from traditional buyers like China and Japan. Public comments on the proposal are due by October 20, marking a critical step toward institutional adoption of digital assets.