- Bitget creates a new passive income avenue for users.
- The BGUSD will power Bitget’s novel Real-World Assets platform.
- BGUSD is compatible and interchangeable with other top stablecoins
Bitget users could be in for a new passive income opportunity following the Web3 company’s latest BGUSD launch. According to a recent announcement, Bitget has expanded into Real-World Assets using the newly launched yield-bearing stable asset certificate.
The renowned cryptocurrency exchange announced that it has integrated BGUSD into its trading and wealth management infrastructure, offering a multifaceted utility layer backed by real-world assets. The BGUSD design will enhance capital efficiency and provide passive income opportunities for users worldwide.
In the meantime, Bitget highlighted BGUSD’s compatibility with other top stablecoins, including USDC and USDT. The firm stated that the stable asset is redeemable for USDC at a 1:1 ratio, and users can subscribe to it using USDC or USDT. Other benefits for users holding the newly launched stable asset include an annualized yield starting at 4%, credited daily to their spot accounts based on their minimum daily balance. Meanwhile, a promotional APY of 5% will apply for the first 30 days following the digital asset’s launch.
Bitget’s CEO, Gracy Chen, emphasized the company’s mission of prioritizing users’ needs. According to Chen, Bitget will use BGUSD to deliver a solution that bridges the best of both worlds: the transparency and innovation of crypto with the stability and yield opportunities traditionally found in real-world assets. She described the launch as a new step in how Bitget connects traditional finance’s strengths with the agility of Web3.
It is worth noting that BGUSD derives its yield from a diversified basket of tier 1 tokenized real-world assets, including high-grade money market funds and tokenized US Treasury products. According to Bitget, a diversified asset allocation, institutional-grade infrastructure, and partnerships with several leading tokenization service providers, including Superstate, support the structure’s yield.
About Bitget
Bitget is one of the leading cryptocurrency exchanges established in 2018. It currently serves a minimum of 100 million users across over 150 countries and regions. Through its innovative copy trading function and other trading tools, the Bitget exchange is dedicated to helping users with all kinds of trading solutions.
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Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
