The U.S. Commodity Futures Trading Commission (CFTC) is considering allowing tokenized assets, including stablecoins, to serve as collateral in derivatives markets — a move welcomed by crypto industry leaders.
Acting chair Caroline Pham said Tuesday that the agency will “work closely with stakeholders” on the plan and is seeking public feedback on tokenized collateral use until October 20.
If adopted, stablecoins such as USD Coin (USDC) and Tether (USDT) could be accepted in regulated derivatives trading alongside traditional collateral like cash. The effort comes after Congress passed new stablecoin legislation earlier this year, paving the way for broader institutional adoption.
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Crypto Leaders Rally Behind CFTC’s Tokenized Collateral Plan
Executives from leading crypto firms, including stablecoin issuers Circle Internet Group, Tether, Ripple Labs, and exchanges Coinbase and Crypto.com, have voiced support for the CFTC’s proposal.
Circle president Heath Tarbert said the GENIUS Act “creates a world where payment stablecoins issued by licensed U.S. companies can serve as collateral in derivatives and other traditional financial markets.”
Last year, the CFTC’s Global Markets Advisory Committee, through its Digital Asset Markets Subcommittee, issued a recommendation to broaden the use of non-cash collateral by leveraging distributed ledger technology.
