Bitget has introduced the Cross-Asset Unified Account, a groundbreaking feature that allows users to trade more than 370 assets in a single margin pool. This innovation supports 100 tokenized U.S. stocks, known as rTokens, enabling assets like Apple and Tesla to be used alongside cryptocurrencies in trading.
The Cross-Asset Unified Account aims to enhance trading efficiency by making tokenized stocks as adaptable as digital currencies. According to Bitget CEO Gracy Chen, this step not only brings stocks onto the blockchain but also allows them to operate with the same flexibility as crypto assets. "Capital efficiency is one of the principles behind UEX, and the Cross-Asset UTA puts that idea into practice,” she stated.
Tokenized Stocks and Their New Functions
This new account structure allows eligible rTokens to serve multiple purposes. Users can maintain exposure to the underlying U.S. equities, earn cash dividends, and utilize these assets as collateral for futures and margin trading. Additionally, they can pledge rTokens to borrow stablecoins while keeping their positions open.
The initial rollout includes a diverse selection of tokenized stocks and ETFs, such as rAAPL (Apple), rAMZN (Amazon), rTSLA (Tesla), and rSPY (SPDR S&P 500 ETF). Notably, collateral can be accessed at discount rates of up to 95%, depending on the asset and position size, while the borrowing rates adjust every hour based on market dynamics.
This launch expands on Bitget's recent growth in the tokenized asset sector, with its licensed real-world asset protocol, Reality, facilitating this advancement. Within the first month, rToken assets have surpassed $100 million under management and generated more than $671 million in trading volume. Bitget is poised to further broaden the number of assets available in its Cross-Asset Unified Account, marking a significant leap in the integration of traditional finance with cryptocurrency.
This article is for informational purposes only and is not financial advice.
