Bitget's 8th Anniversary CEO Letter Discusses UEX Strategy
Bitget celebrates its 8th anniversary, with CEO Gracy issuing an anniversary open letter; she admitted that a year ago when Bitget proposed the UEX strategy for a panoramic trading platform, there was skepticism from the outside, but the team chose to respond with product implementation, aiming to solve the fragmentation of assets, accounts, time, and geography, allowing users to trade high-quality global assets in one place.
In the letter, Gracy wrote that over the past year, Bitget has transitioned from a "follower" to a "leader in product innovation," successively launching products such as stock perpetual contracts, Pre-IPO trading, a unified cross-asset account, rToken, and Hong Kong stock Quanto contracts; she referred to 2025 to 2026 as the "year of multi-asset trading," noting that more and more leading exchanges are beginning to engage in traditional financial trading.
Data shows that the peak trading volume of non-crypto assets has accounted for 40% of the platform's total trading volume, with daily trading volumes of TradFi contracts and CFDs both exceeding $10 billion, and the cumulative number of rToken trades surpassing 3 million, with the rToken product managing over $100 million in assets within 5 weeks of its launch.
Regarding the next phase, institutional business will become Bitget's core direction: by the second quarter of 2026, the net asset scale of Bitget's institutional clients is expected to grow by 45% compared to the third quarter of 2025, with the number of core active market makers increasing from 90 to 248, nearly a 1.8-fold increase; Gracy stated, "Crypto and traditional markets are merging, AI is changing the trading experience, and institutional participation is accelerating."
Founded in 2018, Bitget currently serves over 125 million users in more than 150 countries and regions; at the end of the open letter, Gracy wrote: "The pursuit of trading excellence is an ongoing process, not a completed task. The era of multi-asset trading has just begun."
Source: Public Information
ABAB AI Insight
Bitget's "multi-asset" transformation is not an isolated action—leading exchanges including Binance and OKX have been accelerating their layout in traditional financial asset trading in recent years (such as Binance's own bStocks tokenized US stock products and Robinhood Chain's stock tokens). Bitget's emphasis on moving "from follower to leader" essentially proves through its product release pace (stock perpetual contracts, Pre-IPO, Hong Kong stock Quanto contracts, etc.) that it has not fallen behind in this round of industry transformation, and is even ahead of some peers.
The direction of resource investment is also clear—TradFi contracts and CFD daily trading volumes exceeding $10 billion and the peak proportion of non-crypto assets reaching 40% indicate that Bitget's products and traffic resources have significantly tilted towards traditional asset trading over the past year; the 45% growth rate in institutional net assets and the nearly 1.8-fold increase in the number of market makers show that the company is gradually shifting its operational focus from the retail side to the institutional side, corroborating its statement that "the next phase will focus on institutional business."
This approach of "exchanges building traditional asset exposure and competing for institutional liquidity" is similar to the logic that traditional securities brokers have long used to retain high-net-worth and institutional clients by expanding their product lines (from stocks to options, futures, CFDs); currently, the entire crypto exchange industry is in a phase where "the spot and contract dividends are peaking, and traditional assets and institutional business are becoming new sources of growth." The competition among platforms like Bitget, Binance, and Robinhood in this phase has essentially shifted from simply competing over the types of crypto assets to who can build a unified account system covering multiple asset classes faster.
This is essentially a reconstruction of the industrial chain—exchanges are integrating assets and accounts that originally belonged to traditional brokers and crypto exchanges into a unified trading and settlement infrastructure. Mechanically, whoever can first bridge the account fragmentation between crypto assets and traditional assets like stocks and forex, allowing users to trade all asset categories with the same margin and account, will capture a larger share of capital accumulation and liquidity in this wave of institutionalization; the increase in the number of market makers from 90 to 248 is a direct reflection of the attractiveness of this infrastructure.
ABAB News · Law of Cognition
When asset categories peak, the ability to integrate account systems becomes the moat.
Institutions do not care how many cryptocurrencies you have; they care about whether you can trade the world with one account.
The number of market makers is the most honest vote of the platform's infrastructure attractiveness.