Bitget CEO Open Letter: Breaking the Impossible

Author: Gracy Chen, Bitget CEO

Dear Bitget community partners,

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 watching US stocks, one for buying gold, two for cryptocurrency CEX, one for cryptocurrency DEX, and one specifically for cross-border currency exchange.

He asked me a very simple question: "Gracy, why do I have to manage seven accounts, remember seven passwords, and pay seven transaction fees just to hold these assets?"

At that moment, I realized that what he wanted was never more assets, but less hassle.

In today's speech, I want to start with a few sets of numbers, because behind these numbers are more people like him…

In the past six months, we have seen some very specific changes. The trading volume of non-crypto assets peaked at nearly 40% of Bitget's overall trading volume; CFD daily trading volume exceeded $10 billion; 52% of users hold both stocks and cryptocurrencies; 35% hold gold and other precious metals; and 51% of users use AI tools to assist in investment decisions. More and more users are beginning to switch naturally between crypto, stocks, commodities, and forex. At the same time, an increasing number of users are starting to pay attention to Pre-IPO. We launched two rounds of IPO Prime, the first being preSPCX and the second being preOPAI, both of which brought users approximately 30-50% returns within one to two months.

These numbers indicate that users are becoming increasingly mature in cross-asset trading, and it is correct for us to provide users with more asset decision-making options.

But today, I also want to address a misunderstanding about UEX.

Many people interpret "Universal Exchange" as: Bitget wants to list more and more assets, ultimately becoming a platform where anything can be traded.

This understanding is partially correct, but not entirely. Having more assets is indeed the first layer of UEX. However, simply having more assets does not mean the platform is genuinely improving. If these assets cannot enter a unified account, cannot form efficient liquidity, cannot lower the operational threshold for users, and cannot meet users' real needs—then it merely shifts complexity from the market to the users.

We do not want UEX to become an "asset supermarket" where more assets are better. What we care more about is: Can we enhance users' asset efficiency? Can we allow ordinary users to access global opportunities more fairly? Can we make trading simpler, rather than more anxiety-inducing?

Thus, UEX is not a competition of asset quantity. UEX is a competition of user value, asset efficiency, and trading experience.

Today, I want to share four values of UEX, all revolving around this question: What kind of assets, what kind of products, and what kind of systems are truly useful to users?

1. Asset Efficiency First

The first value of UEX is asset efficiency first.

In a trading platform, user value is concretely reflected in asset efficiency. What is asset efficiency? Simply put, users' assets should not just sit idle in their accounts. If an asset can only be used in one scenario, its efficiency is low; if it can serve multiple goals simultaneously, its value is truly released.

Traditional financial accounts are a typical 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 integrate into a crypto trading system and hard to become part of a cross-asset portfolio. There are account barriers, time zone barriers, currency barriers, and liquidity barriers between different asset classes.

In UEX, we hope to change this situation.

We have already supported using some stock tokens as collateral. If you hold rNVDA and want to short Bitcoin because you are bullish on NVIDIA but bearish on cryptocurrencies, you can use your rNVDA as collateral. This is a capital efficiency tool that traditional brokers cannot provide.

One asset, multiple uses, available in real-time. This may sound like a feature, but it represents an important value orientation of UEX:

Asset efficiency first. It is not about making users trade more, but about making the assets they already own be used more fully.

2. Global Assets, Crypto-native Experience

The second value of UEX is to provide a crypto-native experience for global assets.

This has two layers of meaning. The first layer is that nowadays, traders pay attention to BTC, gold, and US stocks simultaneously. This does not mean users have become more complicated; rather, the global market is inherently interconnected. The problem is that the traditional financial system has segmented these scenarios into different accounts and platforms. Every time users engage in cross-asset operations, they incur additional time and monetary costs.

UEX addresses this by allowing users to participate in various global assets using stablecoins within the same account, eliminating the hassle of opening multiple accounts and the wear and tear from currency exchanges. Bitget's integration of CFDs enables trading of commodity indices and forex, and the recent launch of the RWA platform rToken, along with direct connections to US stock brokers for the Stock+ product, are all changes made based on this judgment.

But this is just the first layer.

The second layer of "global assets, crypto-native experience" is to adapt traditional assets to the tokenized new financial system. This is a more important and far-reaching direction, and it is the future financial form that Bitget envisions.

I know an investor in Singapore. For the past few years, his biological clock has been enslaved by US stock market opening times. The market opens before 4 PM New York time, which often means he is staring at the screen at 3 or 4 AM his time, waking up with dark circles the next day. The market only belongs to him during those few hours when it is awake on the other side of the globe.

In the first half of this year, we enabled 24/7 trading for stock contracts, and over 90% of spot rTokens achieved 24/5 trading. He no longer has to stay up late for opening times—he can decide when the market belongs to him.

We want to bring the experience that crypto users are already familiar with—instant, around-the-clock, and without geographical restrictions—to more asset classes. By utilizing blockchain's instant settlement technology, we enable traditional assets to gain capabilities they have never had before. This is why Bitget continues to invest in the tokenization of stocks, a crypto-native technological route.

I have said that by 2030, 10% of global financial assets will be tokenized. Some may find this number too aggressive. But I believe that once users experience the efficiency of tokenized assets, it is hard to return to the traditional way of using assets. Just like once you have used instant transfers, it is hard to accept three-day settlement; once you have used a smartphone, it is hard to go back to a brick phone. Once you have experienced a market without time zones and borders, you cannot go back.

We still believe in blockchain technology, but the definition of cryptocurrency is changing. Initially, it only represented Bitcoin; later it also represented meme coins like Dogecoin. In the future, a large portion of cryptocurrencies will be RWA. At the same time, the emergence of RWA is meant to create a more prosperous on-chain world, rather than allowing the crypto world to be drained by traditional finance.

So, global assets, crypto-native experience. It is not about making users adapt to old finance, but about bringing traditional assets into a new financial system that is more familiar, open, and efficient for users.

3. Financial Equality

The third value of UEX is financial equality, breaking down barriers.

Bitget IPO Prime has launched two rounds so far, and the market response has exceeded expectations. This indicates an important trend is occurring. Opportunities that once belonged only to a few institutions, high-net-worth individuals, and private equity circles are now being captured by more ordinary users through tokenization and new trading infrastructure.

In the past, the "barrier to entry" for early investment in quality assets was very high. I have seen too many stories like this: an ordinary investor watches a company they have long believed in rise from angel rounds to Series A, B, and beyond, with valuations multiplying by dozens of times. All they can do is wait—wait for it to go public, wait for retail investors to be allowed to buy in. But that moment often coincides with the earliest investors starting to cash out. What they receive is the bone left after others have eaten the meat.

Over 99% of individual investors globally have never had the opportunity to participate in early pricing in the primary market. This is not because they do not understand, but because the wall of barriers never left them a door from the very beginning.

In doing UEX, we want to rethink: how can we bring quality opportunities that originally belonged only to a few people to more ordinary users within a clear framework of rules and sufficient risk disclosure?

This is precisely why, when Bitget IPO Prime launched SpaceX, we offered a pricing corresponding to an implied valuation of $1.5 trillion—lower than the official entry price for institutions and far below the current market price. Specifically, after its listing in mid-June, SpaceX's circulating valuation had already exceeded $2.5 trillion, and even the official entry price given to institutional investors at the time of the company's listing was around $1.77 trillion.

This is what we mean by financial equality. It means that ordinary users can also obtain entry tickets that once belonged only to institutional circles, participating in truly quality asset opportunities at earlier and lower prices.

4. Reducing Trading Burden

The fourth value of UEX is reducing trading burden.

Many trading platforms hope users will stay longer. The more entry points, the better; the more features, the better. Ideally, users should be clicking around the platform every day, with longer stay durations.

But we do not see it this way.

Trading itself is already complex enough. Markets fluctuate, information overloads, and emotions interfere with judgment. If the platform continues to increase the operational burden on users, it is not helping them but consuming them. A good trading product should help users efficiently complete judgment, execution, and risk management, not create more noise.

This is also why we emphasize features like copy trading, trading bots, and AI trading assistants.

In the first half of this year, Bitget launched CFD copy trading, stock trading bots with smart portfolio combinations, GetClaw, and Agent Hub. Currently, both Bitget copy trading users and AI trading users have surpassed 1 million. Recently, we also upgraded our AI trading capabilities, launching the GetAgent Playbook feature, allowing traders to create, subscribe to, and run automated strategies through natural language.

We believe that one day all platforms will support "universal assets," and at that time, experience will be the core of competition, with AI being at the heart of that experience. AI is transitioning from "answering questions well" to "executing trades well." In the future, users will no longer need to face complex information and numerous entry points; they can set goals, conditions, and risk boundaries, allowing the system to help them execute. This represents a healthier human-machine relationship—letting silicon-based life handle the tedious tasks while carbon-based life focuses on creativity and strategy, truly enjoying life.

What Exactly is UEX

In summary, all of Bitget's products are built on four values:

Make assets more efficient—one asset should not only serve one scenario;

Make markets freer—a market trend should not only exist in one time period or one region;

Make opportunities more equal—an opportunity should not only belong to one circle;

Make trading simpler—a platform should help users do subtraction.

After discussing these four values, let's return to the initial question: What exactly is UEX?

UEX is not an asset supermarket that "piles assets together." We do not want to create a financial super app; we just want to focus on "trading" and serve those who have "trading" needs.

UEX is a crypto-based, low-threshold, truly efficient global asset trading system—allowing users to participate in the global asset market in a crypto manner within one account, one experience, and one liquidity infrastructure.

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

The traditional financial system has existed for over 200 years. There was a wave of digitization in the 2000s, but the essence of that transformation was merely moving existing things online. I believe blockchain represents the next transformation of the same magnitude—it can make this already digitized financial system truly fluid, free, and fair.

Do you remember the user I mentioned at the beginning who lives in East Asia? What he wanted was never seven apps, but a fair entry point.

The first era of crypto addressed the pain points of "the unbanked," which I call banking the unbanked. What I see now is the opportunity of brokering the unbrokered, addressing the pain points of "those without brokerage accounts"—allowing those without channels, circles, or connections to participate equally in the global asset market. This is our core mission as an exchange: to reconstruct the operating system of value circulation, enabling everyone to connect to global opportunities under equal conditions.

For users in many regions of the world, merely opening a US brokerage account is already an insurmountable wall. This is the wall we want to tear down.

The future financial platform should simplify complexity; the future of finance should be about doing subtraction for users, allowing every user to participate equally, efficiently, and safely in the global asset market.

Thank you.