Bitget has launched a Fixed Coupon Note (FCN) Plan for tokenized US stocks, a structured product that pairs a fixed coupon with exposure to five eligible equities. The plan covers rTokens for SNDK, MRVL, SKHY, NVDA, and MU.
A fixed coupon with equity exposure
The FCN Plan is designed to give users a steady income stream through a fixed coupon while maintaining exposure to the underlying tokenized stocks. Unlike a plain stock purchase, the plan layers a set payment on top of the equity position, which could appeal to investors looking for both yield and upside potential.
Bitget hasn't disclosed the coupon rate or the payment schedule, but the structure suggests a regular payout tied to the plan's terms. The fixed coupon is the key draw—it offers a predictable return regardless of how the stock performs, at least on paper.
The five eligible stocks
The plan includes five tokenized US stocks: SNDK, MRVL, SKHY, NVDA, and MU. These are the only rTokens currently eligible for the FCN Plan, according to the announcement. Each ticker represents a tokenized version of a US-listed company, though Bitget didn't specify which companies the symbols map to.
For context, NVDA and MU are widely recognized as Nvidia and Micron, but the other three—SNDK, MRVL, and SKHY—aren't as obvious. The lack of detail leaves some ambiguity about the exact underlying assets, but the plan's scope is clear: five tokenized equities, each with a fixed coupon attached.
How tokenized stocks fit in
Tokenized stocks are digital representations of traditional shares, typically built on a blockchain. They allow for fractional ownership and faster settlement than conventional markets. Bitget's rTokens appear to be one such format, letting users hold a tokenized slice of a US stock without needing a brokerage account.
The FCN Plan takes that concept a step further by adding a fixed-income element. Instead of just holding the token, users earn a coupon on top of the price movement. That hybrid structure is relatively new in the crypto space, where most products are either pure trading or pure yield.
The plan is now available on Bitget's platform. Users can access it through the exchange's structured products section, though the exact entry point wasn't detailed. The company hasn't said whether more stocks will be added later or if the coupon rate will vary over time.
For now, the FCN Plan stands as a straightforward option for those who want tokenized equity exposure with a fixed return. The next step is seeing how the market responds—and whether Bitget expands the list of eligible rTokens.
