Bitget Launches Stock Transfer Feature For 3,000+ Tokenized US Stocks & ETFs

Bitget has just added a new feature that enables investors to transfer their funds from traditional brokerage accounts to the cryptocurrency trading platform, which includes stocks and exchange-traded funds (ETFs) listed on the United States stock exchange. The new rToken Stock Transfer service enables over 3000 eligible assets. It enables users to tokenize their assets in two steps, thus seamlessly integrating traditional equities into the Bitget digital asset ecosystem.

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Bitget Enables Direct Transfers of Stock Holdings

The transfer starts as soon as the user has made a Free of Payment (FOP) request via the external broker. Shares are credited to an omnibus account under Alpaca’s administration for the benefit of Bitget. Once the assets arrive and processed, Bitget’s In-Kind Tokenization Network (ITN) will issue the rTokens. The tokens are then placed in the user’s spot account.

There is no fee for incoming transfers and they are usually received within 10 business days. If users want to move the assets out of Bitget, they will be charged a fee.

The feature opens up additional applications of tokenized stocks on the platform. Users can access spot trading, borrowing and lending, margin related functions, and yield products using supported rTokens as assets. However, it depends on the eligibility of these assets and the applicable conditions, per the crypto exchange.

“Tokenization has already made traditional assets more accessible, but access is only part of the equation. The next step is making those assets more useful, giving people greater flexibility in how they manage and deploy their capital,” remarked Gracy Chen, CEO of Bitget.

She then added, “With rToken Stock Transfer, we’re making it easier for users to bring their existing stock holdings into Bitget, where eligible assets can eventually serve a wider range of purposes, including as collateral for other trading activities. That’s the real potential of RWA within our Universal Exchange: allowing assets to move more freely and capital to work more efficiently.”

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$1 Million rSPCX Airdrop Offered To Eligible Users

The launch is a continuation of Bitget’s Reality real-world asset issuance platform, which is responsible for the tokenized asset business. As of July 6, rToken’s asset under management (AUM) in its ecosystem was around 114 million USD. Also, cumulative transactions have been above two million.

To celebrate the launch, Bitget is hosting an airdrop event where eligible participants can receive a portion of $1 million worth of SpaceX stock tokens (rSPCX). Rewards are based on qualifying transfers’ size and distributed on a first-come, first-served basis.

Anyone transferring $5,000 will earn $200 in rSPCX. Transfers of $20,000 and $50,000 qualify for $800 and $2,000 in tokens, respectively. The second and third levels have also got trading fee rebate vouchers of $50 and $150 respectively which can be used within 14 days. All rewards are subject to the rules and eligibilities of the campaign.