UMX, or The Unified Market Exchange, has launched an invite-only public beta, according to Odaily. The platform was incubated by Avenir Group under Li Lin.
UMX is positioned as a crypto-friendly securities platform for global professional investors. It combines crypto assets and traditional securities trading on the same platform, with the stated goal of improving capital efficiency across asset classes.
During the beta phase, the platform offers spot, margin, futures, and options trading for crypto assets. It also supports trading in U.S. stocks, exchange-traded funds, and U.S. equity options.
Beta centers on capital connectivity between crypto and securities accounts
The current beta puts its main focus on opening capital rails between crypto asset accounts and securities accounts. UMX said it has built mechanisms for cross-market fund transfers, financing, and conversions between coins and stocks.
Through a feature called "conversion transfer," users can automatically convert stablecoins such as USDT into USD and move the funds into a securities account in one step. Through a separate "loan transfer" function, users can pledge non-stablecoin crypto assets as collateral and obtain buying power for U.S. stocks, ETFs, and U.S. equity options.
After completing fiat account verification, users can also open a fiat account under their own name for fiat deposits and withdrawals.
Platform adds stock-to-token conversion and cross-asset margin
UMX also allows securities holdings to be converted into corresponding stock tokens through a "stock-to-coin" function. Those stock tokens can be counted toward margin in a crypto trading account based on the applicable haircut rate, and they can also be converted back into the corresponding securities assets.
To improve cross-asset capital efficiency, the platform has introduced a cross-asset margin mechanism. Yield products that meet the platform's rules can also be used as margin.
BTC and USDT yield products go live in the beta
During the public beta, UMX has also listed BTC and USDT yield products, with maximum annualized returns of 2.5% and 5.5%, respectively.
UMX said the model is designed to reduce the operational costs that professional investors face when they frequently move funds and manage separate accounts, while providing a unified framework for capital management and risk management across asset allocation.
The beta is invitation-only. Users who have obtained a beta code can register through the UMX website at umx.com and test the products and services currently available. Those without a code can reserve a spot for the full release, receive launch notifications, and join the early-bird benefits program.