Bitget and digital asset research firm Block Scholes have published a joint report on the interaction between tokenized equities and crypto assets inside a unified trading account.
In the report, Block Scholes modeled a $1 million portfolio that included AI- and semiconductor-related tokenized stocks, BTC and ETH perpetual contracts, and a Nasdaq 100 ETF perpetual contract. Under a structure where accounts were kept separate, the total margin requirement came to about $340,000. In Bitget’s cross-asset unified account, tokenized stocks could also be counted as collateral, cutting required capital to about $175,000. That represents a reduction of roughly 48.5%.
Stress test compared tokenized stock collateral with USDT
The report also examined the risk profile tied to higher capital efficiency. A stress test showed that when collateral and positions were driven by the same macro factors, a simulated portfolio using tokenized stocks as collateral reached its estimated liquidation point after an approximately 21% correlated market decline. When the same value in USDT was used as collateral, the portfolio could withstand an approximately 27% correlated decline.
The study said that while capital efficiency can improve, collateral-position correlation and the volatility of the collateral itself still need to be assessed together.
Bitget highlights UEX model and unified margin framework
Bitget CEO Gracy Chen said, “Putting assets on-chain is only the first step. More important is improving how capital is used across different markets.” She added that Bitget is using its UEX model to push coordinated operation of crypto assets, tokenized stocks, and other global assets under a unified capital framework.
Bitget’s cross-asset Unified Trading Account, or UTA, currently supports more than 370 collateral assets, including 125 tokenized U.S. stocks. Eligible crypto assets and tokenized equities can enter the same margin system, share collateral value, and be used to meet margin requirements across different positions.