Bitget has introduced a new structured product called the Fixed Coupon Note (FCN) Plan, marking the first time a crypto exchange has combined this traditional finance instrument with USDT settlement and delivery of tokenized US stocks. The product is designed for investors who want exposure to US equities but prefer to set a specific entry price rather than buying at the current market rate.
At launch, the FCN is linked to several popular US stock rTokens, including SNDK, MRVL, SKHY, NVDA, and MU. Users subscribe using USDT and select a strike price at which they are willing to acquire the underlying rToken. During the holding period, they earn a predefined coupon paid in USDT, regardless of the settlement outcome at maturity.
If the observation price at maturity is at or above the strike price, the user receives their USDT principal plus the coupon. If the price falls below the strike, the principal is converted into the rToken at the strike price, while the coupon is still paid in USDT. This structure offers an alternative to a conventional limit order, where capital can remain idle until execution.
“There are times when you want exposure to a stock, but the price is not where you want it to be,” said Gracy Chen, CEO of Bitget. “FCN gives users a set price they are comfortable buying at and earn while they wait. Bringing stocks onto Bitget was one part of building UEX. Now we are giving users more ways to access and use these assets, beyond simply buying and selling them on spot.”
The launch expands Bitget's rToken ecosystem and its Universal Exchange (UEX) strategy, which aims to unify crypto and traditional financial assets in a single trading environment. By integrating USDT, tokenized equities, and a structured product mechanism from traditional finance, FCN adds another avenue for users to manage traditional assets on the platform.
It is important to note that FCN is a non-principal-protected product. If settlement occurs in rTokens, users remain exposed to price movements of the underlying asset and could incur losses if the price declines further. This risk profile is typical of structured notes but may be unfamiliar to some crypto investors.
To mark the launch, Bitget is running a limited-time FCN campaign from August 17 to September 18, 2026, with rewards available to eligible first-time and cumulative subscribers. This initiative follows Bitget's recent expansion into institutional services, such as the $300M Archimedes capital program for crypto quant firms, and the institutional-grade CFD liquidity offering for automated traders.
The move also comes amid a surge in rToken trading volume, which has grown 18-fold as tokenized markets mature. Bitget's partnership with Bhutan's Gelephu Mindfulness City for digital asset expansion further underscores its commitment to broadening access to traditional assets through blockchain technology.
For investors, the FCN product provides a way to potentially earn a yield while waiting for a desired entry point in US stocks, but it carries the risk of conversion into the underlying token. As with any structured product, understanding the terms and risks is essential before participating.
This article is for informational purposes only and does not constitute financial advice.
