Bitget has launched a Fixed Coupon Note (FCN) plan, bringing a traditional finance structured product to tokenized US stocks. The exchange says it's the first crypto platform to combine FCN with USDT settlement and US stock rToken delivery, letting users earn a predefined USDT coupon while waiting for a target entry price.
How the coupon gets paid
The FCN works like a hybrid between a savings note and a limit order. Users subscribe with USDT and hold the note for a set period. At maturity, if the observation price of the linked stock is at or above the strike price, they receive their USDT principal plus the coupon, all in USDT. If the price sits below the strike, the principal converts into the linked rToken at that strike price — but the coupon still lands in USDT.
That conversion is where the risk lives. The FCN is not principal-protected. If the underlying stock's price slides after settlement, a user holding rTokens could end up with less value than they started with. So it's not a pure yield play; it's an alternative to placing a conventional limit order, with the added perk of earning a coupon while you wait.
The first batch of rTokens
The product initially ties to five tokenized US stocks: SNDK, MRVL, SKHY, NVDA, and MU. Those are the rTokens Bitget is using for this first rollout. No word yet on whether more will be added, but the structure is built to scale.
A limited-time campaign
Bitget is sweetening the launch with a campaign running from August 17 to September 18, 2026. Eligible subscribers get rewards on top of the regular coupon payments. The window is short — just over a month — so anyone interested needs to move before the deadline.
Bitget's tokenized TradFi push
Bitget calls itself the world's largest Universal Exchange, with more than 125 million users and access to 2 million crypto tokens plus 500+ tokenized stocks. It claims to lead the tokenized TradFi market, offering the industry's lowest fees and highest liquidity across 150 regions. The FCN launch is another step in that direction, borrowing a familiar tool from traditional finance and adapting it for crypto-native settlement.
The campaign ends September 18. After that, the FCN plan stays live, but the extra rewards will be gone.
