Bitget Launches Fixed Coupon Notes for US Stock rTokens

Bitget, the world's largest Universal Exchange (UEX), has launched the Fixed Coupon Note (FCN) Plan, bringing a structured product commonly used in traditional finance to tokenized US stocks. The new FCN structure allows users to subscribe with USDT and earn a predefined USDT coupon during the holding period.

Bitget is the first crypto exchange to combine the FCN structure with USDT settlement and US stock rToken delivery. The launch expands the ways users can access traditional financial assets through Bitget, moving beyond spot trading to structured strategies built around tokenized equities. The FCN Plan is designed for users who are interested in gaining exposure to US stocks but prefer to enter at a specific price instead of buying immediately at the prevailing market price. At launch, the product is linked to popular US stock rTokens including SNDK, MRVL, SKHY, NVDA, and MU.

Users subscribe with USDT and select a strike price at which they are comfortable acquiring the linked rToken. If the observation price at maturity is at or above the strike price, the user receives the USDT principal plus the predefined USDT coupon. If the observation price is below the strike price, the principal is converted into the linked rToken at the strike price, while the coupon is paid in USDT. The structure provides an alternative to placing a conventional limit order. While a limit order allows investors to wait for a preferred entry price, the capital allocated to that order can remain idle until it is executed. FCN enables the platform to set their target price in advance while earning a coupon during the product term, regardless of which of the two settlement outcomes occurs at maturity.

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