Bitget’s Bold Move: How USDt-Powered TradFi Derivatives Could Revolutionize Forex, Gold, and Stocks Trading
Ever thought about blending the sizzling world of crypto with the steady rhythm of traditional finance? Well, Bitget’s latest move might just have you rethinking your trading game plan. They’ve rolled out a private beta giving a chosen few access to forex, gold, and stock derivatives—yes, the classic market staples—but here’s the kicker: all positions are margined and settled in good ol’ USD, specifically Tether’s USDT. Imagine juggling crypto spot trades alongside traditional assets, all under one roof, without the hassle of opening multiple accounts or converting currencies. It’s kind of historic, as their CEO puts it. Are we witnessing the dawn of a truly integrated financial playground, or just a fleeting experiment? Either way, it’s a bold step that could reshape how we trade. Curious to dive deeper? LEARN MORE.
The new feature gives select users access to traditional market derivatives, with positions margined and settled in USD during a limited testing phase.
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Bitget has launched a private beta for a new TradFi trading feature that gives crypto users access to forex, commodities and stock derivatives contracts using stablecoins as collateral.
The feature will allow Bitget users to trade major fiat currency pairs, gold and other derivatives alongside crypto spot and derivatives products on the same platform. Trades will be margined and settled with Tether’s USDt (USDT), allowing users to access traditional trading markets without the need to open a separate brokerage account or convert currencies.
According to Monday’s announcement, use of the feature is limited to selected users and is being rolled out in a testing phase, with access restricted as Bitget evaluates performance and risk controls across the new markets.
Bitget CEO Gracy Chen said integrating cryptocurrency, gold, stocks, forex and commodities under one system is “historic.”
Founded in 2018, Bitget is a centralized cryptocurrency exchange that offers spot and derivatives trading, copy trading and related cryptocurrency services to users worldwide.
According to CoinMarketCap, the exchange ranks sixth among the top exchanges by crypto spot trading volume and among the top five derivatives exchanges, with about $1.8 billion in daily spot volume and nearly $12 billion in derivatives volume.
Bitget said its derivatives product operates under the oversight of Mauritius’ Financial Services Commission and offers leveraged exposure of up to 500 times.
In July, Bitget added support for tokenized stocks on its onchain platform through an integration with xStocks, allowing users to gain blockchain-based exposure to equities such as Tesla, Nvidia, Apple and Strategy.
Related: Standard Chartered, Coinbase deepen alliance to build institutional crypto infrastructure
Crypto exchanges integrate TradFi products
Other digital-asset exchanges are also exploring the integration of traditional financial products into crypto trading.
In April, Kraken began rolling out commission-free trading for more than 11,000 US-listed stocks and exchange-traded funds. Kraken co-CEO Arjun Sethi said at the time the company’s move into equities reflects growing demand for a single platform that can support trading across crypto and traditional assets, and aligns with a longer-term shift toward tokenized, blockchain-based markets.
In July, Bybit launched a TradFi trading feature that allows users to access gold, forex, commodities, indexes and derivatives products directly within its app. The product uses a single account and crypto wallet to trade both crypto and traditional markets, including access to dozens of stock derivatives tied to major global companies.
Meanwhile, traditional brokerage platforms are beginning to integrate crypto assets and digital asset infrastructure, reflecting a parallel push from the financial sector. Interactive Brokers recently signaled the possible launch of a proprietary stablecoin that could be used to fund brokerage accounts.
The brokerage company, which said it was still evaluating the proposal, works with crypto infrastructure providers Paxos and Zero Hash.
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