Bitget, a self-described Universal Exchange, has launched the Fixed Coupon Note (FCN) Plan, bringing a structured product commonly used in traditional finance to tokenized US stocks. The product allows users to subscribe with USDT, select a strike price at which they would be comfortable acquiring a stock-linked rToken, and earn a predefined coupon paid in USDT during the holding period.
At launch, the FCN Plan supports several popular US stock rTokens, including SNDK, MRVL, SKHY, NVDA and MU. The structure has two possible outcomes at maturity. If the observation price of the underlying asset is at or above the selected strike price, the user receives the original USDT principal along with the predefined coupon. If the price falls below the strike price, the principal is converted into the linked rToken at the predetermined strike price, while the coupon is still paid in USDT.
Bitget says the FCN offers an alternative to conventional limit orders, where allocated capital can remain idle while waiting for a preferred entry point. Gracy Chen, CEO of Bitget, said: “There are times when you want exposure to a stock but the price is not where you want it to be. FCN gives users a set price they are comfortable buying at and earn while they wait.” The launch expands Bitget's rToken ecosystem and its broader Universal Exchange strategy, which aims to bring crypto and traditional financial exposure together within a single platform.
The product is explicitly a non-principal-protected structured product. If settlement results in delivery of rTokens, users remain exposed to subsequent movements in the underlying asset and may incur losses. To mark the launch, Bitget is running a promotional campaign from August 17 through September 18, 2026, with rewards available to eligible first-time and cumulative subscribers.
