Bitget CEO Open Letter: Breaking the Impossible
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Bitget CEO Open Letter: Breaking the Impossible
What kind of assets, what kind of products, and what kind of systems are truly useful to users.
Navigating Web3 tides with focused insightsDear 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 checking US stocks, one for buying gold, two crypto CEXs, one crypto 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 fees seven times just to hold these assets simultaneously?"
At that moment I realized—what he wanted was never more assets, but less hassle.
For today's speech, I want to start with a few sets of numbers, because behind these numbers are people just like him...
Over the past six months, we have seen some very specific changes. The peak trading volume of non-crypto assets approached 40% of Bitget's overall trading volume; CFD daily trading volume exceeded $10 billion; 52% of users hold both stocks and cryptocurrencies simultaneously; 35% hold gold and other precious metals; 51% of users use AI tools to assist investment decisions. More and more users are starting to switch naturally between crypto, stocks, commodities, and forex. At the same time, more and more users are starting to focus on Pre-IPO. We launched two phases of IPO Prime, the first was preSPCX, and the second was preOPAI; both projects brought users approximately 30-50% returns within one to two months.
These numbers show that users are becoming more mature in cross-asset trading, and our decision to provide users with more assets is correct.
But today, I also want to talk about a misunderstanding about UEX.
Many people understand "Universal Exchange" as: Bitget is going to list more and more assets, eventually becoming a platform where you can trade everything.
This understanding is partially correct, but not entirely. Having many assets is indeed the first layer of UEX. But if assets just keep increasing, it doesn't mean the platform is truly getting better. If these assets cannot enter a unified account, cannot form efficient liquidity, cannot lower the user's operational threshold, and cannot meet users' real needs—then it just shifts complexity from the market to the user.
We do not want UEX to become just an asset supermarket where "the more assets the better". What we care more about is: Can we improve users' asset efficiency? Can we allow ordinary users to access global opportunities more fairly? Can we make trading simpler, rather than making people more anxious?
Therefore, 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 4 values of UEX, all revolving around this question: What kind of assets, what kind of products, and what kind of system are truly useful to users.
1. Asset Efficiency First
UEX's first value is Asset Efficiency First.
In a trading platform, user value has a very specific manifestation called asset efficiency. What is asset efficiency? Simply put, users' assets should not just lie in the account. If an asset can only be used for one scenario, its efficiency is very 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 hard to enter the crypto trading system and hard to become part of a cross-asset portfolio. Between different asset classes, there are account barriers, time zone barriers, currency barriers, and liquidity barriers.
In UEX, we hope to change this situation.
We already support using some stock tokens as margin. If you hold rNVDA and want to short Bitcoin, because you are bullish on NVIDIA but bearish on crypto, you can use your rNVDA as margin. This is a capital efficiency tool that traditional brokers simply cannot provide.
One asset, multiple uses, available in real-time. This sounds like a feature, but behind it represents a very important value orientation of UEX:
Asset Efficiency First. It is not about letting users trade more things, but about letting assets users already own be used more fully.
2. Global Assets, Crypto-Native Experience
UEX's second value is to give global assets a Crypto-native experience.
The meaning here is divided into two layers. Let's talk about the first layer: Nowadays, traders pay attention to BTC, gold, and US stocks simultaneously. This is not because users have become complicated, but because the global market is inherently interconnected. The problem is that the traditional financial system cuts these scenarios into different accounts and different platforms. Every time a user participates in a cross-asset operation, it comes with extra loss of time and money.
What UEX solves is allowing users to participate in multiple global assets with stablecoins in the same account, saving the trouble of opening multiple accounts and the wear and tear caused by currency exchange. Bitget accessing CFDs to trade commodity indices and forex, launching the RWA platform rToken, and recently directly connecting to broker US stocks to create the Stock+ product, are all changes made based on this judgment.
But this is only the first layer.
The second layer of meaning of "Global Assets, Crypto-Native Experience" is to let traditional assets adapt to the new financial system of tokenization. This is a more important and far-reaching direction, and also the future financial form seen by Bitget.
I know an investor in Singapore. In the past few years, his biological clock was hijacked by US stock market opening hours. The market opens before 4 PM New York time, often meaning he is still staring at the screen at 3 or 4 AM his time, having dark circles under his eyes the next day.
In the first half of this year, we enabled 24/7 trading for stock contracts, and over 90% of spot rTokens achieved 24/5. He no longer has to stay up late for an opening time—when the market belongs to him is decided by himself.
We hope to bring the experience that crypto users are already familiar with—instant, 24/7, no geographical restrictions—to more asset classes. Through blockchain instant settlement technology, let traditional assets gain capabilities they never had before. This is also why Bitget continues to increase investment in the crypto-native technical route of stock tokenization.
I have said that by 2030, 10% of global financial assets will be tokenized. Some people think this number is too aggressive. But I think, once users experience the efficiency of tokenized assets, it is hard to return to the usage method of traditional assets. Just like once you use instant transfer, it is hard to accept three-day arrival again; once you use a smartphone, it is hard to return to a brick phone. Once you experience a market without time zones and without 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, and in the future a large part of cryptocurrency will be RWA. At the same time, the emergence of RWA is for a more prosperous on-chain world, not to allow the crypto world to be drained by traditional finance.
Therefore, Global Assets, Crypto-Native Experience. It is not about letting users adapt to old finance, but about letting traditional assets enter the new financial system that users are familiar with, which is more open and efficient.
3. Financial Equity
UEX's third value is Financial Equity, breaking down circles.
Bitget IPO Prime has currently launched two phases, and the market response has exceeded expectations. This shows an important trend is happening. Opportunities that previously belonged only to a few institutions, a few high-net-worth users, and a few private equity circles are being captured by more ordinary users through tokenization and new trading infrastructure.
In the past, the "circle barriers" to accessing early investment in high-quality assets were very high. I have seen too many such stories: an ordinary investor watches helplessly as a company they favored early on rises from Angel Round, Series A, Series B all the way up, with valuation multiplying dozens of times. And all he can do is wait—wait for it to list, wait for the moment retail investors are allowed to buy. But that moment is often when the earliest entering institutions start cashing out and leaving. What he takes over is the bone after others have finished eating 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 don't understand it, but because that circle wall never left a door open for them from the start.
In building UEX, we hope to rethink: How to bring high-quality opportunities that originally belonged to only a few people to more ordinary users, under a clear rule framework and full risk disclosure?
This is exactly why when Bitget IPO Prime launched SpaceX, the pricing we gave corresponded to an implied valuation of $1.5 trillion—lower than the institution's official entry price, and far lower than the current market price. Specifically, when listed in mid-June, SpaceX's circulating valuation had already exceeded $2.5 trillion, and even the official entry price for institutional investors given by the company at listing was around $1.77 trillion.
This is exactly what we mean by Financial Equity. It means that ordinary users can also get the entry ticket that once belonged only to institutional circles, to participate in truly high-quality asset opportunities at an earlier and lower price.
4. Reducing Trading Burden
UEX's fourth value is Reducing Trading Burden.
Many trading platforms hope users stay longer. The more entrances the better, the more functions the better. Ideally, users click around on the platform every day, the longer the stay duration the better.
But we do not see it this way.
Trading itself is already complex enough. The market fluctuates, information becomes overloaded, and emotions interfere with judgment. If the platform also constantly increases the user's operational burden, then it is not helping users, but consuming users. A good trading product should help users complete judgment, execution, and risk management more efficiently, and should not create more noise.
This is also why we value copy trading, trading bots, and AI trading assistants.
In the first half of this year, Bitget launched CFD copy trading, stock trading bots and smart portfolio holdings, GetClaw, and Agent Hub. Currently, Bitget copy trading users and AI trading users have both exceeded 1 million. Recently we also upgraded AI trading capabilities, launching the GetAgent Playbook function, allowing traders to create, subscribe to, and run automated strategies through natural language.
We believe that someday all platforms will support "Universal Assets", at that time experience will be the core of competition, and AI is the core of experience. AI is transforming from "answering questions well" to "executing trades well". In the future, users will no longer need to face complicated information and numerous entrances; they can set goals, conditions, and risk boundaries, letting the system help them execute. This is a healthier human-machine relationship--letting silicon-based life handle those tedious things, while carbon-based life provides creativity and strategies, truly enjoying life.
What Exactly Is UEX
To summarize, all of Bitget's products are built on four values:
- Make assets more efficient—one asset should not serve only one scenario;
- Make the market freer—one market trend should not live only in one time period, one region;
- Make opportunities more equal—one opportunity should not belong to only one circle;
- Make trading simpler—one platform should help users do subtraction.
After discussing these four values, we return to the initial question: What exactly is UEX?
UEX is not an asset supermarket that "piles assets together"; we do not want to make a financial super app; we only want to focus on the matter of "trading" and serve people with "trading" needs well.
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 way within one account, one set of experiences, and one set of liquidity infrastructure.
After so many years of growth, blockchain has long exceeded the boundaries of the crypto circle.
The traditional financial system has existed for over two hundred years. There was a digital wave in the 2000s, but the essence of that change was just moving existing things online. I believe blockchain is the next change of equal magnitude—it can make this already digitalized financial system truly become liquid, free, and fair.
Remember the user living in East Asia I mentioned at the beginning? What he wanted was never seven Apps, but a fair entrance.
The first era of crypto solved the pain point of "people without bank accounts", which I call banking the unbanked. And the opportunity I see now is brokering the unbrokered, which is solving the pain point of "people without broker accounts"—allowing people without channels, without circles, and without connections to participate in the global asset market equally. This is our core mission as an exchange: to reconstruct the operating system of value circulation, allowing everyone to connect to global opportunities under equal conditions.
For users in many regions of the world, simply opening a US broker account is already a wall that is difficult to cross. This wall, we want to tear it down.
Future financial platforms should simplify complexity; what future finance should look like is doing subtraction for users, allowing every user to participate in the global asset market equally, efficiently, and safely.
Thank you.
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