Bitget, a cryptocurrency exchange operating under a Universal Exchange (UEX) model, has introduced a Fixed Coupon Note (FCN) Plan that applies a structured finance product to tokenized US equities. The product allows users to subscribe with USDT and receive a predetermined USDT coupon throughout the holding period.
Bitget said the launch combines FCN mechanics with USDT settlement and delivery of stock-linked rTokens, expanding its range of products beyond conventional spot trading. The initial offering is tied to several US stock rTokens, including SNDK, MRVL, SKHY, NVDA and MU.
The FCN Plan is aimed at users seeking exposure to US stocks while targeting a specific entry price rather than purchasing an asset immediately at the prevailing market rate. Subscribers select a strike price and allocate USDT to the product.
At maturity, the outcome depends on the observation price of the underlying asset. If the price is at or above the selected strike price, the subscriber receives the original USDT principal along with the predefined coupon. If the price falls below the strike price, the principal is converted into the corresponding rToken at the selected strike price, while the coupon remains payable in USDT.
Bitget said the structure offers an alternative to a conventional limit order. Under a limit order, funds may remain unused while waiting for an asset to reach the specified price. With FCN, users can set a target acquisition price while earning a coupon during the product term, with settlement determined at maturity.
“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 in a written statement. “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,” she added.
The new product adds another layer to Bitget’s rToken ecosystem and its broader UEX strategy, which seeks to bring cryptocurrency and traditional financial assets into a single trading environment. The FCN Plan combines USDT-based funding, tokenized US equities and a structured product format commonly used in traditional markets.
The exchange noted that the FCN Plan is not principal-protected. When settlement takes place in rTokens, users remain exposed to changes in the underlying asset’s price and could face additional losses if the asset declines after conversion.
Bitget is also introducing a limited-time promotional campaign to coincide with the launch. The campaign will run from August 17 through September 18, 2026, with rewards available to eligible first-time and cumulative FCN subscribers.
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