Bitget Launches Fixed Coupon Notes for Tokenized US Stocks
Bitget, a cryptocurrency exchange, has launched a new financial product called the Fixed Coupon Note Plan. This plan allows users to subscribe with USDT and choose a strike price for five tokenized US stocks: rTokens tracking SNDK, MRVL, SKHY, NVDA, and MU.
If the observation price at maturity is at or above the strike price, users get their principal back plus a coupon in Tether (USDT). If it's below, the principal converts into the rToken at the strike price, but the user still receives the USDT coupon. The product is non-principal-protected, meaning buyers left holding rTokens will lose money if the stock price continues to fall.
According to Gracy Chen, Bitget's CEO, this product gives users a set price they are comfortable buying at and earns them while they wait. It's framed as an alternative to limit orders, where capital sits idle until it fills.