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Bitget CEO Open Letter: Breaking the Impossible

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Bitget CEO Gracy Chen Releases Mid-Year Open Letter: UEX Is More Than Just an "Asset Supermarket", with Asset Efficiency as the Top Priority.

Bitget CEO Gracy Chen Mid-Year Open Letter:

Dear Bitget Community, 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 US stocks, one for gold trading, two for cryptocurrency CEX, one for cryptocurrency DEX, and one specifically for cross-border remittance.

He asked me a simple question: "Gracy, why do I have to manage seven accounts, remember seven passwords, and pay seven sets of fees just to hold these assets at the same time?"

At that moment, I realized — what he wanted was not more assets, but less hassle.

In today's speech, I want to start with some sets of numbers because behind these numbers are people like him...

In the past six months, we have seen some 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 stocks and cryptocurrencies simultaneously; 35% hold gold and other precious metals; 51% of users use AI tools to assist in investment decisions. More and more users are starting to naturally switch between crypto, stocks, commodities, and forex. At the same time, more users are paying attention to Pre-IPO. We launched two rounds of IPO Prime, the first round for preSPCX and the second round for preOPAI, both projects brought users a return of about 30-50% in one to two months.

These numbers indicate that users are becoming increasingly mature in cross-asset trading, and our decision to provide more assets to users is correct.

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

Many people understand the "panoramic trading platform" as: Bitget is going to list more and more assets, eventually becoming a platform where everything can be traded.

This understanding is partially correct, but not entirely. Having more assets is indeed the first layer of UEX. However, if it's just about having more and more assets, it does not mean the platform has genuinely improved. If these assets cannot enter a unified account, cannot generate efficient liquidity, cannot reduce user operating thresholds, and cannot meet users' real needs — then it merely shifts complexity from the market to the users.

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

So, 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 UEX's four values, all of which revolve around this question: What kind of assets, what kind of products, and what kind of systems are truly useful to users.

One, 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, it means that a user's assets should not just sit in an account. If an asset can only be used for one scenario, its efficiency is very low; if it can serve multiple purposes, its value is truly unleashed.

A traditional financial account is 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 enter the crypto trading system and become part of a cross-asset portfolio. There are barriers between different asset classes, such as 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 cryptocurrency, you can use your rNVDA as margin. This is a capital efficiency tool that traditional brokers cannot provide.

One asset, multiple uses, instantly available. This may sound like a feature, but behind it lies a very important value proposition of UEX:

Asset Efficiency First. It's not about allowing users to trade more things, but about allowing users' existing assets to be more fully utilized.

Two, Global Assets, Crypto-Native Experience

UEX's second value is to provide a Crypto-native experience for global assets.

This has two layers of meaning. Let's first talk about the first layer of meaning: Today, traders pay attention to BTC, gold, and US stocks at the same time. This is not because users have become more complex, but because the global market is inherently interconnected. The issue is that the traditional financial system has segmented these scenarios into different accounts and platforms. Every time a user participates in a cross-asset operation, it comes with additional time and monetary costs.

UEX aims to allow users to participate in various global assets using stablecoins in the same account, eliminating the hassle of opening multiple accounts and the friction caused by currency exchange. Bitget's integration of CFDs for trading commodity index forex, the launch of the RWA platform rToken, and the recent direct connection to a brokerage for the Stock+ product are all changes made based on this understanding.

But this is just the first layer.

The second-layer meaning of "Global Assets, Crypto-Native Experience" is to make traditional assets adapt to the tokenized new financial system. This is a more important and profound direction, and it is also the future financial form that Bitget sees.

I know an investor in Singapore. Over the past few years, his body clock was hijacked by the U.S. stock market's opening hours. With New York opening before 4 p.m., it often meant that in his time zone, he was still staring at the screen at three or four in the morning, sporting dark circles under his eyes the next day. The few hours when the market was awake on the other side of the globe belonged to him.

In the first half of this year, we enabled stock futures trading 24/7, with over 90% of spot rTokens achieving 24/5 trading. He no longer has to stay up late for an opening time—the market now belongs to him whenever he decides.

We hope to bring the experience that crypto users are already familiar with—instant, 24/7, and unrestricted by geography—to more asset classes. Through blockchain instant settlement technology, traditional assets gain the ability they have never had before. This is also why Bitget continues to ramp up stock tokenization as part of its crypto-native technical roadmap.

I have said that by 2030, 10% of the world's 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 go back to using traditional assets. It's like using instant transfers—once you've experienced it, it's hard to accept a three-day transfer. Use a smartphone, and it's hard to go back to a flip phone. Once you've experienced a market without time zones or borders, you can't go back.

We still believe in blockchain technology, but the definition of cryptocurrency is changing. Initially, it only represented Bitcoin, then it also represented meme coins like Dogecoin, and in the future, a large part of cryptocurrencies will be RWAs. At the same time, the emergence of RWAs is for a more prosperous on-chain world, rather than letting the crypto world be drained by traditional finance.

Therefore, 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 familiar to users, more open, and efficient.

Three, Financial Inclusion

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

Bitget's IPO Prime has now launched two phases, with market feedback exceeding expectations. This indicates that an important trend is taking place. Opportunities that were previously only available to a few institutions, a few high-net-worth individuals, and a few private circles are now being captured by more ordinary users through tokenization and new trading infrastructure.

The "circle barrier" that has historically surrounded early-stage investment in quality assets used to be very high. I've seen too many stories like this: an ordinary investor watching a company they believed in from the early stages, through the angel round, Series A, Series B, with the valuation skyrocketing. All they could do was wait—wait for it to go public, wait for the moment when retail investors are allowed to buy. But that moment is often when the earliest institutional investors start cashing out. What they end up with is the leftover bone after others have eaten the meat.

Over 99% of individual investors globally have never had the opportunity to participate in the primary market's early pricing. It's not because they don't understand, but because that barrier has never left a door open for them from the beginning.

At UEX, we hope to rethink: how can we bring quality opportunities that were once only available to a select few to more ordinary users, within a clear rule framework and full risk disclosure?

This is why, when Bitget IPO Prime launched SpaceX, the pricing we offered corresponded to an implied valuation of $1.5 trillion—lower than the official institutional entry price and much lower than the current market price. Specifically, in mid-June when it went public, SpaceX's circulating valuation had already exceeded $2.5 trillion, even the entry price given to institutional investors at the company's IPO was around $1.77 trillion.

This is what we mean by financial inclusion. It means that ordinary users can also get a ticket to what was once exclusive to institutional circles, to participate in truly quality asset opportunities earlier and at a lower price.

IV. Reduce Trading Burden

The fourth value proposition of UEX is to reduce the trading burden.

Many trading platforms would like users to stay longer. The more entry points, the better; the more functions, the better. It's best if users are clicking around the platform every day, staying for longer periods.

But that's not how we see it.

Trading itself is already complex enough. The market will fluctuate, information will overload, emotions will interfere with judgment. If a platform continues to increase users' operational burden, it's not helping users; it's consuming them. A good trading product should help users make judgments, execute, and manage risks more efficiently, 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 with intelligent portfolio composition, GetClaw, and Agent Hub. Currently, Bitget has surpassed one million users in copy trading and AI trading. Recently, we have also upgraded our AI trading capabilities and launched the GetAgent Playbook feature, allowing traders to create, subscribe, and run automated strategies through natural language.

We believe that one day all platforms will support "Panoramic Assets," where user experience will be at the core of competition. AI, in turn, will be at the core of user experience, transitioning from "answering questions" to "executing trades." In the future, users will no longer need to deal with complex information and numerous entry points. They will be able to set goals, conditions, and risk parameters, 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 contributes creativity and strategy, truly enjoying life.

What Exactly is UEX

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

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

Make markets more free—a price action should not only exist in one time period or region;

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

Make trading simpler—a platform should help users subtract, not add.

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

UEX is not an asset supermarket that piles assets together; we do not aim to be a financial super app. Instead, we focus solely on "trading" and serving those who have a demand for "trading."

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

After many years of growth, blockchain has long transcended the boundaries of the crypto community.

The traditional financial system has existed for over two hundred years. The 2000s saw a wave of digitization, but the essence of that transformation was merely moving existing things online. I believe that blockchain will usher in an equivalent-level revolution—the kind that can truly make this already digitized financial system fluid, free, and fair.

Do you remember the user from East Asia I mentioned at the beginning? What he wants is not seven apps but a fair entry point.

The first era of crypto addressed the pain point of "unbanked" individuals, which I refer to as "banking the unbanked." The opportunity I see now is "brokering the unbrokered," solving the pain point of those without broker accounts—enabling people with no channels, no circles, and no pathways to equally participate in the global asset market. This is the most core mission of our exchange platform: reconstructing the operating system of value circulation, allowing everyone to connect to global opportunities on equal terms.

For many users in the world, simply opening a U.S. brokerage account is already an insurmountable barrier. This barrier is what we want to tear down.

The future financial platform should be simplified; the future of finance should be about subtraction for users, enabling every user to participate in the global asset market equally, efficiently, and securely.

Thank you.