Bitget said it has launched FCN, or Fixed Coupon Note, a structured product tied to tokenized U.S. stocks. The exchange said the product combines FCN terms with USDT settlement and delivery of U.S. stock rTokens, and it listed initial underlyings including SNDK, MRVL, SKHY, MU and NVDA with reference APR ranges of 56%–71%, 49%–61%, 46%–58%, 39%–48% and 13%–16%, respectively. Bitget also introduced a limited-time cashback campaign that can return up to 10,000 USDT per user, with the promotion running through Sept. 18. FCN is described as a structured wealth product linked to a single U.S. stock rToken. Users subscribe with USDT and set an execution price. At maturity, if the observed price is at or above the strike, principal and fixed interest are returned in USDT; if it falls below the strike, principal is converted into the corresponding rToken at the execution price, while the fixed interest is still paid.

India's central bank, the Reserve Bank of India (RBI), has ramped up its currency defense efforts as its net short dollar forward position surged to a record $107 billion as of May 2026, up from $67.8 billion in January, marking a 58% increase. The RBI is aggressively using derivatives and spot market sales to prop up the rupee, selling $53.13 billion in the spot market during the fiscal year 2026 and conducting a $5 billion swap auction in May. While India's foreign exchange reserves remain comfortable at $681-688 billion, the growing forward obligations significantly reduce the net buffer. The central bank has also introduced subsidies and tax breaks for non-resident foreign currency deposits to attract capital inflows. This aggressive intervention signals heightened stress in emerging markets and could have ripple effects on global risk assets, including cryptocurrencies.