Bitget enters real-world asset race with yield-bearing BGUSD stable asset
Bitget CEO Gracy Chen told Cointelegraph that BGUSD is distinct from stablecoins and securities and functions as a yield-bearing stable asset certificate.
Crypto exchange Bitget has entered the expanding market for crypto investment products with the launch of BGUSD, a yield-bearing stable asset backed by tokenized real-world assets.
The company announced that BGUSD offers an annual yield of 4%, which is credited daily to users’ spot accounts. Subscriptions to BGUSD can be made using either USDC (USDC) or USDt (USDT), and the asset is redeemable back to USDC on demand.
The company said the yield is derived from a basket of tokenized instruments, including US Treasury bills and high-grade money-market funds. “These assets are managed via partnerships with regulated institutional tokenization providers such as Superstate,” Bitget CEO Gracy Chen told Cointelegraph.
