Bitget CEO Letter: Break the Unbreakables

To our Bitget community,

About a year ago, I met one of our VIP users. He lives in East Asia and runs a small business. He had seven apps on his phone: two for tracking US stocks, one for buying gold, two crypto CEXs, one crypto DEX, and one app dedicated to cross-border currency exchange and transfer.

He asked me a very simple question: "Gracy, why do I have to manage seven accounts, remember seven passwords, and pay seven sets of fees just because I want to hold all these assets at the same time?"

That moment made me realize — what he was asking for was never more assets. It was less hassle.

Today, I want to start my talk with a few numbers because behind every one of those numbers, there are people just like him.

Over the past six months, we have seen some very clear changes in how people trade. At its peak, non-crypto asset volume reached nearly 40% of total platform volume. CFD daily volume hit a single-day record of $10 billion. Today, 52% of our users hold both stocks and crypto, 35% hold gold or other precious metals, and 51% use AI-powered tools to support their investment decisions.

More and more users are moving between crypto, stocks, commodities, and forex. We are also seeing more users show interest in Pre-IPO opportunities. The first Pre-IPO token we launched was preSPCX and the second one was preOPAI. Both projects brought about a return of about 30-50% to users within one to two months.

These numbers show that our users are becoming more sophisticated in how they trade across asset classes. They also show that our decision to expand asset access was the right one.

But today, I want to address a misconception about UEX.

When people hear "Universal Exchange," many think Bitget simply wants to list more and more assets until it becomes a platform where you can trade everything.

It is partially true, but it is not the full picture.

A broad range of assets is the first layer of UEX. But more assets alone do not make a better platform.

A platform can list thousands of assets. But if those assets cannot be used within a unified trading account, if they cannot support efficient liquidity, if they do not lower the barrier to trading, and if they do not meet users' real needs, then all we have done is move the complexity of the market onto the user.

We do not want UEX to become just an "asset supermarket," where more is always assumed to be better.

What we care about is this: Can we improve how efficiently users use their assets? Can we give ordinary users fairer access to global opportunities? Can we make trading simpler, instead of making it more stressful?

UEX is not a competition over the number of assets.

UEX is a competition over user value, capital efficiency, and trading experience.

Today, I want to share four principles that define how we think about UEX. They all come back to one question: What kind of assets, what kind of products, and what kind of system are truly useful to users?

1. Capital Efficiency First

The first principle is capital efficiency.

For a trading platform, user value comes down to something very practical: how efficiently users can put their assets to work.

So what does capital efficiency mean? Put simply, your assets should not just sit in an account. If a single asset can only be used in one scenario, it is working at a fraction of its potential. But when that same asset can serve multiple goals at once, its value is truly unlocked.

Traditional financial accounts are a classic low-efficiency system. When a user buys a stock, that stock usually just sits there. It can go up or down, but it is difficult to bring it into the crypto trading system or make it part of a cross-asset portfolio. Between different asset classes, users still face barriers: separate accounts, different time zones, different currencies, and fragmented liquidity.

With UEX, we want to change that.

We already support using select tokenized stocks as margin. If you hold rNVDA and want to short Bitcoin, because you're bullish on NVIDIA but bearish on crypto, you can put your rNVDA to work as margin. This is the kind of capital efficiency tool that traditional brokers simply cannot offer.

One asset. Multiple uses. Available in real time.

This may sound like a feature, but behind it is a very important principle for UEX:

Capital efficiency first. This is not about asking users to trade more. It is about helping users make better use of the assets they already own.

2. Global Assets, Crypto-native Experience

The second principle of UEX is to give global assets a crypto-native experience.

The meaning here is divided into two layers. Let's start with what this means at the most basic level.

Today, traders follow BTC, gold, and U.S. stocks at the same time. This does not mean users have become more complicated. It means global markets have always been interconnected.

The problem is that traditional finance has separated these markets into different accounts and different platforms. Every cross-asset move comes with extra costs in time, money, and effort.

UEX solves this problem by allowing users to access a wide range of global assets from one account, using stablecoins for settlement. This removes the hassle of opening multiple accounts and reduces the friction caused by currency conversion. Bitget has integrated CFDs for trading commodities, indices, and forex, and launched our RWA protocol rToken. And we also launched Stock+, a product with direct broker connectivity for US equities. All of these changes we have made are based on exactly this conviction.

But this is just the first layer.

The deeper meaning of "global assets, crypto-native experience" is bringing traditional assets into the new financial system of tokenization. This is the more important and more far-reaching direction. It is also the future financial system that Bitget sees coming.

I know an investor based in Singapore. For the past few years, his body clock has been held hostage by US market hours. With New York trading open until 4 PM Eastern, that often meant he was still glued to his screen at three or four in the morning, showing up the next day with dark circles under his eyes. The market only belonged to him during those few hours when the other side of the world was awake.

In the first half of this year, we made stock contracts available 24/7, and over 90% of spot rTokens now trade 24/5. He no longer has to pull an all-nighter just because of a market open time, when the market is available to him is now his call to make.

We want to bring the experience crypto users already know—instant access, always-on markets, and no geographic limits—to more asset classes. Through blockchain-based instant settlement, traditional assets can gain capabilities they have never had before. That is why Bitget continues to invest in stock tokenization as a core crypto-native direction.

I've said it before. By 2030, 10% of global financial assets will be tokenized. Some people think that number is too aggressive. But I believe that once users experience the efficiency of tokenized assets, it becomes very hard to go back to the old way of doing things.

It's like instant transfers, once you've used them, you can't accept waiting three days for a payment to clear. Or smartphones, once you've had one, there's no going back to a flip phone. Once you've experienced a market with no time zones and no borders, there's no going back.

We still believe deeply in blockchain technology. But the meaning of crypto is changing. At first, crypto meant Bitcoin. Later, it also came to include memecoins like Dogecoin. In the future, a significant part of crypto will be RWAs. At the same time, RWAs should make the onchain world more prosperous. They should not become a way for traditional finance to absorb value from crypto and hollow it out.

So, global assets, crypto-native experience. This is not about asking users to adapt to old finance. It is about bringing traditional assets into a more open and efficient new financial system, one that users already understand and already call home.

3. Democratizing Financial Access

The third principle of UEX is democratizing financial access and breaking down barriers.

Bitget IPO Prime has now completed two phases, and the market response has exceeded our expectations.

They show that an important shift is happening. Opportunities that once belonged only to a small group of institutions, high-net-worth individuals, and private placement networks are now becoming accessible to more ordinary users through tokenization and new trading infrastructure.

In the past, the barriers to accessing high-quality early-stage investments were extremely high. I've seen this story play out too many times: an ordinary investor watches a company they believed in early, from angel round to Series A to Series B, climb relentlessly, its valuation multiplying tens of times over. And all they could do was wait. Wait for the IPO. Wait for the moment retail investors are finally allowed in. But that moment, more often than not, is exactly when the earliest institutional investors start cashing out. What he ends up with is the bone — after everyone else has already eaten the meat.

More than 99% of individual investors globally have never had the chance to participate in early-stage pricing in the primary market. Not because they couldn't understand it but because the wall around that circle never had a door for them to begin with.

With UEX, we want to rethink this question: how can we bring high-quality opportunities that were once available only to a few people to more ordinary users, under clear rules and with full risk disclosure?

When Bitget IPO Prime launched the SpaceX project, our offering was priced at an implied valuation of $1.5 trillion, lower than the institutions' official entry price, and far below where the market stands today. By the time of the mid-June listing, SpaceX's circulating valuation had already surpassed $2.5 trillion, and even the institutional investors who came in at the IPO were reportedly entering at around $1.77 trillion.

This is exactly what we mean by financial equality. It means ordinary users can now get the same seat at the table that was once reserved exclusively for institutional circles accessing truly high-quality opportunities earlier, and at a better price.

4. Make Trading Simpler

The fourth principle of UEX is making trading simpler

Many trading platforms want users to spend as much time on them as possible. More entry points. More features. More clicks. The goal is often to keep users on the platform for as long as possible.

But we do not see it that way.

Trading is already complex enough. Markets move. Information overloads. Emotions interfere with judgment. If a platform keeps adding to the user's burden, it is not helping users. It is wearing them down.

A good trading product should help users make decisions, execute trades, and manage risk more efficiently. It should reduce noise, not create more of it.

This is why we place so much importance on copy trading, trading bots, and AI-powered trading assistants.

In the first half of this year, Bitget launched CFD copy trading, stock trading bots, Smart Portfolio, GetClaw, and Agent Hub. Today, both Bitget's copy trading users and AI trading users have surpassed 1 million. Most recently, we also upgraded our AI trading capabilities with the launch of GetAgent Playbook, allowing traders to create, subscribe to, and run automated strategies through natural language.

We believe that one day, every major platform will support universal assets. When that happens, experience becomes the core of competition — and AI becomes the core of experience. AI is evolving from "answering questions well" to "trading well." In the future, users will no longer need to navigate overwhelming information and endless entry points. They will simply set their goals, conditions, and risk boundaries — and let the system execute on their behalf. This is a healthier way for humans and machines to work together: carbon-based life and silicon-based life, working as one.

A good trading product does not make users do more. It helps users make better decisions, execute more efficiently, and manage risk more effectively, with less effort.

What is UEX, really?

To sum it up, everything Bitget builds is grounded in four principles:

• Make assets more efficient — one asset should not be confined to a single use case.

• Make markets more free — a market move should not be confined to a single time window or a single region.

• Make opportunities more equal — a great opportunity should not be confined to a single circle of privilege.

• Make trading simpler — a good platform should help users do less, not more.

After these four principles, we return to the question we started with: What Is UEX — and What Is It Not?

UEX is not an "asset supermarket" that simply piles products onto a shelf. We do not want to build a financial super app for the sake of being bigger. We want to stay focused on trading and serve the people who have real trading needs.

UEX is a crypto-native, accessible, and truly efficient global asset trading system. It allows users to participate in global asset markets through one account, one experience, and one shared liquidity infrastructure, all in a crypto-native way.

After years of growth, blockchain has long outgrown the boundaries of crypto.

The traditional financial system has existed for over two centuries. There was a wave of digitization in the 2000s but at its core, that transformation was mainly about moving existing things online. I believe blockchain represents the next shift of equal magnitude. One that can take this already-digitized financial system and make it truly liquid, free, and fair.

Remember the user I told you about at the start, the one in East Asia? What he wanted was never seven apps. It was one fair way in.

The first era of crypto solved the problem of people with no bank account — what I called banking the unbanked. The opportunity I see now is brokering the unbrokered: solving the problem of people with no brokerage account — giving those with no channels, no inner circle, no way in an equal shot at the global asset market. That is our deepest mission as an exchange: to rebuild the operating system for how value moves, so that everyone, on equal terms, can connect to global opportunity.

For users in much of the world, simply opening a U.S. brokerage account is a wall too high to climb. That wall — we intend to tear it down.

The financial platform of the future should turn complexity into simplicity. The future of finance should do the subtraction for its users, letting every one of them take part in the global asset market equally, efficiently, and safely.

Thank you.

Gracy Chen

Bitget CEO