Dear Bitget community partners,

A year ago, I met one of our VIP users. He lives in East Asia and runs a small business. He has seven apps on his phone: two for watching U.S. stocks, one for buying gold, two for cryptocurrency CEX, one for cryptocurrency DEX, and one specifically for cross-border currency exchange.

He asked me a very simple question: "Gracy, why do I have to manage seven accounts, remember seven passwords, and pay seven transaction fees, just to hold these assets simultaneously?"

At that moment, I realized—what he wanted was never more assets, but less hassle.

For today's speech, I want to start with a few sets of numbers, because behind these numbers are people like him...

In the past six months, we've seen some very specific changes. The trading volume of non-crypto assets peaked at nearly 40% of Bitget's total trading volume; CFD daily trading volume surpassed $10 billion; 52% of users hold both stocks and cryptocurrencies; 35% hold gold and other precious metals; and 51% of users use AI tools to assist investment decisions. More and more users are beginning to switch naturally between crypto, stocks, commodities, and foreign exchange. At the same time, more users are starting to pay attention to Pre-IPO. We launched two phases of IPO Prime, with the first phase being preSPCX and the second phase preOPAI, both projects bringing users approximately 30-50% returns within one to two months.

These numbers indicate that users are becoming increasingly mature in cross-asset trading, and our decision to provide more asset options for users is the right one.

But today, I also want to address a misunderstanding about UEX.

Many people interpret "panoramic exchange" to mean that Bitget aims to launch more and more assets, ultimately becoming a platform where anything can be traded.

This understanding is partially correct, but not entirely. A wide variety of assets is indeed the first layer of UEX. However, if the only focus is on having more assets, it does not necessarily mean the platform is genuinely improving. If these assets cannot enter a unified account, cannot create efficient liquidity, cannot reduce barriers for user operations, and cannot meet users' genuine needs—then it simply shifts the complexity from the market to the users.

We do not wish for UEX to become just an "asset supermarket" where "more assets are better." What we care more about is: can we enhance the efficiency of users' assets? Can we allow ordinary users to access global opportunities more fairly? Can we make trading simpler rather than increasing anxiety?

Thus, UEX is not a competition of asset quantity. UEX is a competition of user value, asset efficiency, and trading experience.

Today, I want to share four values of UEX, all revolving around this question: what kind of assets, what kind of products, what kind of systems are truly useful to users?

1. Asset Efficiency First

The first value of UEX is asset efficiency first.

In trading platforms, user value has a very concrete representation known as asset efficiency. What is asset efficiency? In simple terms, users' assets should not just sit idle in accounts. If an asset can only be used for one scenario, its efficiency is quite low; if it can serve multiple goals simultaneously, its value is truly realized.

Traditional financial accounts represent a typical low-efficiency system. When a user buys a stock, that stock usually just sits there. It can rise or fall, but it finds it difficult to enter the crypto trading system and becomes hard to integrate into a cross-asset portfolio. There are barriers between different asset classes, including account barriers, time zone barriers, currency barriers, and liquidity barriers.

In UEX, we hope to change this situation.

We have already supported using certain stock tokens as collateral. If you hold rNVDA and want to short Bitcoin because you are bullish on NVIDIA but bearish on cryptocurrencies, you can use your rNVDA as collateral. This is a capital efficiency tool that traditional brokers cannot offer.

One asset, multiple uses, available in real-time. This sounds like a feature, but it represents an important value orientation of UEX:

Asset efficiency first. It is not about letting users trade more things, but about making better use of the assets they already have.

2. Global Assets, Crypto-Native Experience

The second value of UEX is to provide a Crypto-native experience for global assets.

This has two layers of meaning. The first layer: nowadays, traders pay attention to BTC, gold, and U.S. stocks simultaneously. This does not mean that users have become more complex, but rather that the global market is inherently interconnected. The problem is that the traditional financial system segments these scenarios into different accounts and platforms. Users face additional time and financial costs for each cross-asset operation.

UEX addresses this by allowing users to engage with various global assets using stablecoins within a single account, eliminating the hassle of opening multiple accounts and the nuisance of currency exchanges. Bitget's integration of CFD for trading commodity indices and foreign exchange, the launch of the RWA platform rToken, and the recent direct connection with brokerages for U.S. stocks to create the Stock+ product, are all changes made based on this understanding.

But this is only the first layer.

The second layer of "global assets, crypto-native experience" means enabling traditional assets to adapt to the tokenized new financial system. This is a more important and far-reaching direction, and it reflects the future financial forms that Bitget envisions.

I know an investor in Singapore. Over the past few years, his biological clock was imprisoned by U.S. stock opening hours. The market opens before 4 PM New York time, which often means he is staring at the screen at 3 or 4 AM here, facing the day with dark circles. The market only belongs to him for those few hours when the earth is awake on the other side.

This first half of the year, we achieved 24/7 trading for stock contracts, and over 90% of spot rTokens now have 24/5 trading. He no longer has to lose sleep over opening hours—the market is now on his schedule.

We aim to bring the experiences that crypto users are already familiar with—instant, round-the-clock, no geographical boundaries—to more asset classes. Through blockchain's instant settlement technology, we are granting traditional assets abilities they have never had before. This is why Bitget continues to double down on the tokenization of stocks, a crypto-native technological route.

I have said that by 2030, 10% of global financial assets will be tokenized. Some think this figure is too radical. But I believe that once users experience the efficiency of tokenized assets, it will be hard for them to go back to using traditional assets. Just as once you have experienced instant transfers, you can hardly accept three-day transaction arrivals; or once you have used a smartphone, it’s difficult to go back to a flip phone. Once you have tasted a market without time zones or borders, there is no turning back.

We still believe in blockchain technology, but the definition of cryptocurrencies is changing; initially, it only represented Bitcoin, but later it also encompassed meme coins like Dogecoin, and in the future, a significant portion of cryptocurrencies will represent RWA. Meanwhile, the emergence of RWA is intended to foster a more prosperous on-chain world, not for the crypto world to be drained by traditional finance.

So, global assets, crypto-native experience. It's not about making users adapt to old finance, but about enabling traditional assets to enter a new, familiar, and more open and efficient financial system for users.

3. Financial Equality

The third value of UEX is financial equality, breaking down barriers.

Bitget IPO Prime has launched two phases to date, and the market response has exceeded expectations. This indicates an important trend is happening. Opportunities that once belonged only to a few institutions, a few high-net-worth individuals, and a few private equity circles are now being captured by more ordinary users through tokenization and new trading infrastructure.

The "barriers to entry" for early investments in quality assets used to be very high. I have seen too many stories like this: an ordinary investor watching a company he has long favored rise through angel round, Series A, and Series B funding, multiplying its valuation several times. Yet all he could do was wait—wait for it to go public, wait for the moment when retail investors are allowed to buy in. But that moment often coincides with when the earliest institutions start cashing out. What he is left with are the bones left after others have had their fill.

Globally, more than 99% of individual investors have never had the chance to participate in initial market pricing. This is not because they do not understand, but because the wall of barriers never left a door open for them from the outset.

In building UEX, we want to rethink: how can we bring quality opportunities, which used to belong only to a few, to more ordinary users under a clear rules framework and adequate risk disclosure?

This is exactly why, when Bitget IPO Prime listed SpaceX, the pricing we provided corresponded to an implied valuation of $1.5 trillion—lower than the official entry price for institutions and far below the current market price. Specifically, post-listing in mid-June, SpaceX's circulating valuation exceeded $2.5 trillion, and even the official entry price given to institutional investors at the time of the company's listing was around $1.77 trillion.

This is what we mean by financial equality. It means that ordinary users can also receive the entry ticket that once belonged only to institutional circles, participating in genuinely quality asset opportunities at earlier and lower prices.

4. Reducing Transaction Burdens

The fourth value of UEX is to reduce transaction burdens.

Many trading platforms hope that users stay longer. The more entry points, the better; the more functions, the better. Ideally, users should be clicking around the platform daily, with longer stay durations.

But we do not view it this way.

Trading is already complex enough. Markets fluctuate, information can be overwhelming, and emotions can cloud judgment. If the platform keeps adding to the user's operational burdens, then it is not helping users; it is consuming them. A good trading product should help users efficiently complete judgments, executions, and risk management, not create more noise.

This is also why we value copy trading, trading bots, and AI trading assistants.

In the first half of this year, Bitget launched CFD copy trading, stock trading bots, smart portfolio combinations, GetClaw, and Agent Hub. Currently, both Bitget's copy trading users and AI trading users have surpassed one million. Recently, we upgraded our AI trading capabilities, launching the GetAgent Playbook feature that allows traders to create, subscribe, and run automated strategies through natural language.

We believe that one day all platforms will support "panoramic assets." At that point, experience will be the core of competition, and AI will be the core of experience. AI is transitioning from "answering questions well" to "executing trades well." In the future, users will no longer need to face complicated information and numerous entry points; they can set goals, conditions, and risk boundaries, allowing the system to assist in execution. This represents a healthier human-machine relationship—letting silicon-based life handle the tedious tasks, while carbon-based life focuses on creativity and strategy, truly enjoying life.

What exactly is UEX

In summary, all products offered by Bitget are built on four values:

• Make assets more efficient—an asset should not only serve one scenario;
• Make markets freer—a market trend should not only exist in one time period or one region;
• Make opportunities more equal—an opportunity should not belong only to one circle;
• Make trading simpler—a platform should help users simplify.

After discussing these four values, let’s return to the initial question: what exactly is UEX?

UEX is not an asset supermarket that "piles assets together." We do not wish to create a financial super app; we only want to focus on trading itself and serve those with "trading" needs.

UEX is a crypto-based, low-threshold, and genuinely efficient global asset trading system—allowing users to participate in the global asset market using encryption, all within one account, one set of experiences, and one liquidity infrastructure.

After years of growth, blockchain has long surpassed the boundaries of the crypto circle.

The traditional financial system has existed for over 200 years. There was a wave of digitalization in the 2000s, but the essence of that transformation was merely moving existing entities online. I believe blockchain represents the next equal-level transformation—it can make this already digitized financial system truly fluid, free, and fair.

Do you remember the user I mentioned at the beginning who lives in East Asia? What he wanted was never seven apps, but a fair entrance.

The first era of crypto addressed the pain point of "people without bank accounts," which I call banking the unbanked. What I see now is the opportunity of brokering the unbrokered, which means addressing the pain point of "people without brokerage accounts"—allowing those without channels, circles, or pathways to equally participate in the global asset market. This is the core mission of us as an exchange: to reconstruct the operating system for value circulation, enabling everyone to connect to global opportunities under equal conditions.

For many users in various regions of the world, merely opening a U.S. brokerage account is already an insurmountable wall. This wall, we want to dismantle.

The future financial platform should simplify the complex; the future of finance should look like doing subtraction for users, enabling every user to participate in the global asset market equally, efficiently, and securely.

Thank you.