New Web Product
Bitget Adds rToken Stock Transfer Feature
Bitget, a cryptocurrency exchange, has introduced a new feature that allows users to transfer eligible US-listed stocks and ETFs from traditional brokerage accounts to its platform as tokenized assets called rTokens. This feature supports over 3,000 assets and enables users to move their existing investments to Bitget in two steps. Users start by requesting a Free of Payment (FOP) transfer from their brokerage account to Bitget’s designated Alpaca account. Once the shares arrive, Bitget’s In-Kind Tokenization Network (ITN) automatically converts them into rTokens and credits them to the user’s spot account. Transfers into Bitget are free and take around 10 business days. Users can then use eligible rTokens for spot trading, margin services, borrowing and lending, and yield products. This feature is part of Bitget’s Universal Exchange (UEX) strategy, which aims to bring traditional investments and cryptocurrency services together on one platform. Bitget’s rToken ecosystem continues to grow, with more than two million transactions completed and $114 million in rToken assets under management as of July 6. The feature is part of Bitget’s Universal Exchange (UEX) strategy, which aims to bring traditional investments and cryptocurrency services together on one platform. Bitget CEO Gracy Chen highlighted the benefits of tokenization, including making traditional assets easier to access and more useful. The company also plans to expand how users can use these assets through trading, lending, yield products, and potentially as collateral. However, wider adoption will depend on factors such as the ease of transfers, supported assets, trading liquidity, fees, and terms attached to each token.