[DigitalToday reporter Chi-gyu Hwang] Cryptocurrency exchange Bitget is speeding up the expansion of its TradFi (traditional finance) platform aimed at breaking down boundaries with traditional financial markets.
The service, launched on Jan. 5, topped $2 billion in daily trading volume within four days, showing rapid growth, The Block reported on Thursday.
Bitget TradFi supports trading traditional assets such as gold (XAUUSD), major currency pairs (GBPUSD), crude oil and global indexes (NASDAQ) in a single app in a way similar to cryptocurrencies.
Users can settle all trades in the dollar stablecoin USDT, allowing them to manage positions without converting into separate fiat currencies. Features such as leverage of up to 500 times, low slippage and fast execution are also similar to existing crypto trading methods.
Bitget introduced it as part of its UEX (Universal Exchange) strategy. The structure allows cryptocurrencies and traditional assets to respond in real time to the macro environment within a single ecosystem and be traded simultaneously.
Bitget is drawing in new users by starting with gold trading. Bitget said that for users accustomed to highly volatile assets like bitcoin, gold is a slower-moving asset that clearly reacts to global news, making it suitable for getting started with macro trading.
Bitget presented a blueprint to evolve into an integrated exchange that will also cover tokenised stocks and on-chain assets in the future.