Recently, the US stock market has been bustling, with popular sectors such as semiconductors, storage, and optical communications experiencing frequent surges, completely igniting users' trading enthusiasm.

However, traditional brokers are constrained by regulatory uncertainties and compliance costs, leading to capital outflows and asset allocation becoming pain points for countless investors.

Last Tuesday, Bitget launched a comprehensive upgrade of "US Stocks 2.0," transforming in areas like dividend distribution, liquidity depth, and capital utilization rate.

This Space session invited four hardcore "guest challengers" from the cryptocurrency and stock market communities: Brother Bean @BroBean88, Hero Dad Hai Da @xiadadhaida, Frank @qinbafrank, and Brother Lu @lugeweb3, who conducted a rigorous "interrogation" of Jia Yin, the head of Bitget Greater China, and Thomas, the director of trading products.

During the live broadcast, Jia Yin and Thomas not only addressed product questions that users were concerned about, but also revealed previews of the product plans for June, packed with information and valuable insights.

Highlights of Q&A Review

1. Product Features and Future Roadmap

Q (Brother Bean):

As a long-time user of IB (Interactive Brokers) and Futu/Tiger, traditional brokers offer very rich fundamental analysis tools, options data, earnings calendars, and AI quick order functionalities. However, I currently feel that Bitget is relatively weak in these research and analysis tools. Will there be a clear optimization roadmap in the future?

Thomas:

Traditional brokers have developed over the course of decades, and their features are very mature, while our US stock products have been online for less than two weeks. Stock trading is currently Bitget's absolute strategic heavyweight product direction, and we will steadfastly invest resources.

Within the next 1 to 2 years, we will continuously strengthen the competitiveness of our US stock products. Our long-term goal is to build an All-in-One platform that allows users to complete the "research to trading" complete loop within Bitget.

Jia Yin:

Traditional brokers have operated for many years in mature market mechanisms, accumulating a stable trading system and user recognition. In contrast, Bitget has grown from the high-intensity competition of the cryptocurrency market, bringing more efficient trading technology, more flexible product design, and a stronger awareness of user service to penetrate the US stock trading scene.

I can confidently say that currently, Bitget's US stock spot trading is very competitive in terms of liquidity depth, transaction efficiency, and smoothness of trading experience compared to others in the same market.

2. Dividends, Stock Splits and Taxes

Q (Brother Bean):

Under Bitget's US stock mechanism, how do dividend rights, distribution time, and tax treatment differ from traditional brokers? What is the specific calculation mechanism?

Thomas:

From the beginning of our design, we strive to pursue a solution that is exactly the same as that of the US stock market.

• Regarding tax deduction: Due to the platform's universality, we currently cannot enjoy the 20% preferential tax rate like IB submits W-8 forms; we will temporarily deduct dividend taxes at a uniform US stock tax rate of 30%.
• Regarding capital gains tax (income tax): Since Bitget adopts a tokenized rToken model, it does not involve capital gains tax.
• Regarding distribution timing: The distribution rhythm is consistent with traditional brokers.
• Regarding token withdrawal: Since it is a tokenized product, users can still receive interest airdrops even if they withdraw US stock tokens to their own wallets on-chain. In the event of stock splits or consolidations, it will also proportionally reflect in the number of tokens in the user's wallet.

3. Underlying Mechanism, Slippage, and "New Listing" Efficiency

Q (Brother Bean & Brother Lu):

Bitget adopts the asset tokenization (r-Token) approach, which adds a layer of token conversion. Compared to other direct broker connections, will there be issues like price slippage, price differences, or low new listing efficiency?

Thomas:

This is the concern of many. Last year, we integrated the third-party Ondo solution, and during actual use, there were indeed some limitations, such as single transaction amounts cannot exceed 200,000 USD, and transaction speeds not being fast enough. Based on this user feedback and product experience issues, we've been promoting the RWA protocol Reality since the end of December, hoping to improve the trading efficiency, asset transparency, and user experience of US stock tokens at the underlying architecture level.

Currently, the prices and depths we display on our platform are completely real US stock data, with the underlying orders penetrating and being sent directly to the order books of NASDAQ and NYSE. Therefore, in terms of price slippage and execution efficiency, we have no differences from Futu and Tiger. Even during off-market hours (pre-market and after-hours), we can help users switch order modes to support quick market orders.

Jia Yin:

We have conducted strict real-time market testing, and the prices at which US stocks are purchased on Bitget are exactly the same as those on Futu, with no price difference. The transaction speed is at the millisecond level, whether placing limit orders or market orders, it is extremely smooth, unafraid of large trades.

Regarding the speed of new listings:

The process for launching US stocks is more rigorous. In just over a week, we have already listed two to three hundred stocks, and we will maintain a rapid rate of new listings while committing to listing 500 mainstream US stocks within the next seven days. This goal is not merely about quantity but is based on the judgment of platform trading data. If the selection of targets is precise enough, 500 popular stocks can cover about 98% of trading volume demand.

4. Stability in Extreme Market Conditions and Asset Safety

Q (Hai Da & Brother Lu):

1. In the event of extreme black swan conditions with significant daily price surges or drops, can Bitget ensure smooth operation without lagging or order processing failures?
2. What happens if the issuer of the US tokenized assets Reality runs away or goes bankrupt? Who will be responsible for the users' assets?

Thomas:

Regarding extreme market conditions, we are continuously optimizing our trading pathways. In the future, we will connect to high-frequency trading "dedicated lines" on Wall Street. At that time, our trading performance, throughput, and speed will reach world-class levels, allowing ordinary users to enjoy the same smooth experience as large brokers and quantitative hedge funds.

Jia Yin:

Concerning the running away issue, users don’t have to worry at all:

1. Reality is a self-developed product by the Bitget team, deeply cooperating with the licensed broker Alpaca at the underlying level.
2. Bitget has operated for 8 years, maintaining a good platform security record.
3. Our asset reserves prove to be over 100%+.
4. We have a user protection fund of 300 million USD dedicated to addressing significant risks such as black swans.

5. Real Anchoring and Third-party Auditing

Q:

How can users confirm that the underlying US stock tokens they purchase are real assets? How can the one-to-one real anchoring be proven?

Thomas:

We have hired a licensed third-party professional accounting audit firm in the US (The Network Firm) to monitor and audit our stocks and on-chain tokens 24/7.

We disclosed our securities and funds accounts with the cooperating brokers to the audit firm, allowing them to directly read our underlying stock quantities, while comparing them with the public information of the on-chain token smart contracts. Daily and monthly, they will provide corresponding audit reports for public disclosure. If they find that the asset ratio is less than 100%, it will be announced immediately.

6. Community Content, Investment Education and Operational Thinking

Q (Frank):

US stocks differ from cryptocurrencies in that they have a very multidimensional structured data and sector concept. Firms like Futu and Tiger pay great attention to the construction of internal content ecosystems, supporting quality traders to write analyses and create visual sector charts to stimulate and assist users in making trading decisions. What plans does Bitget have for content operations and investment education?

Thomas:

Content and timeliness are crucial for US stock trading. Over the past month, we have been engaging in intensive negotiations with several major news and data providers for US stocks to procure services. Functions such as financial reports, in-depth analyses, and news will be iteratively launched with product updates to match traditional brokers.

Jia Yin:

While working with US stocks, we found that many US stock users are crypto "newbies" who even need hand-holding to learn how to bind their Google Authenticator. Thus, investment education (educating investors) is our top priority. We are currently actively building a team, interviewing several analysts from traditional industries in US stocks, and forming an 8-person BD team and professional content operation for US stocks. With some traditional brokers adjusting their services, a new wave of user demands has indeed emerged. What we need to do is to solidify our foundational services, user education, and operational support to help these users adapt to the new multi-asset trading method in a smoother and more efficient manner.

Teaser: Bitget US Stocks June Plans and Key Timelines

At the end of the Space, Jia Yin and Thomas outlined the upcoming dense "bullet points" for June:

• Mid-June: For trading VIPs and clients with capital VIP level 3 and above, fully unlock the complete order book for US stock spot trading. The unified account model will fully support US Stocks 2.0 spot trading. Launching "Weekend Trading"! Starting a 7×24 hour US stock trading era. The first batch will support trading of 20 popular US stocks on weekends, and will gradually expand to about 100 stocks.
• Late June: Launch “US Stock Strategy Trading (grids, etc.)” and “US Stock One-Click Follow” functions. Launch “Pledge Lending,” allowing US stock spots to be used as contract margins or lending collateral to enhance users' capital utilization rates.
• Within the next 1-2 months: Launch on-chain US stock solutions. At that point, users will be able to directly trade US stock tokens on-chain through Bitget Wallet and other Web3 wallets. Open API interfaces for US stock spots to meet the needs of professional traders and quantitative teams.

Conclusion:

Bitget US Stocks 2.0, with sincere liquidity, millisecond-level product experience advantages, and a 7×24 hour hardcore strategy, is advancing full speed towards creating the smoothest All-in-One asset allocation platform!