On Monday, Bitget announced the launch of a private beta phase for a new TradFi (Traditional Finance) trading feature, which allows users to access derivative contracts for Forex, commodities, and stocks. The “historic” feature, according to CEO Gracy Chen, integrates cryptocurrencies, gold, and other assets under a single system, using only Tether (USDT) as collateral and for settlement. Users will be able to trade in traditional markets without the need to open separate brokerage accounts or convert currencies. For the time being, the function is limited to selected users while Bitget evaluates performance and risk controls in these new markets.
Bitget’s initiative marks a growing trend among major crypto platforms, such as Kraken and Bybit, which are also integrating TradFi products. Bitget’s strategy seeks to consolidate its position as an all-in-one trading platform, leveraging its high derivatives volume (close to $12 billion daily, according to CoinMarketCap). Bitget’s derivatives platform operates under the oversight of Mauritius’ Financial Services Commission, offering leverage of up to 500 times.
What follows for Bitget will be the expansion of the beta phase and the full integration of the service for all users. Investors should monitor how regulatory oversight evolves in Mauritius and the success of Bitget’s risk strategy, especially when offering such high leveraged exposure. The general trend points toward a convergence where both crypto exchanges integrate traditional products, and traditional brokerage platforms begin to adopt digital assets.
Source: https://www.bitget.com/blog/articles/bitget-tradfi-private-beta-launch
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