Bitget has launched a structured product that pays a Tether(USDT) coupon while users wait to buy tokenized US stocks at a set price. Bitget Fixed Coupon Note The exchange said Tuesday that it
Bitget has launched a structured product that pays a Tether(USDT) coupon while users wait to buy tokenized US stocks at a set price.
The exchange said Tuesday that its Fixed Coupon Note Plan lets users subscribe with USDT and choose a strike price. The plan covers rTokens tracking SNDK, MRVL, SKHY, NVDA and MU.
If the observation price at maturity is at or above the strike, users get their USDT principal back plus the coupon.
Below that level, the principal converts into the rToken at the strike price, and the coupon is still paid in USDT. Bitget calls the note non-principal-protected, so buyers left holding rTokens lose money if the stock keeps falling. A reward campaign for first-time and repeat subscribers runs through Sept. 18.
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"There are times when you want exposure to a stock but the price is not where you want it to be," said Gracy Chen, chief executive of Bitget. "FCN gives users a set price they are comfortable buying at and earn while they wait," she added.
The company frames it as an alternative to a limit order, where capital sits idle until it fills.
In July, Bitget opened a cross-asset account that takes 100 US stock tokens as margin, and said rToken assets passed $100 million in the first month.
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