Bitget and Block Scholes released a research report, stating that using a cross-asset unified account can reduce capital occupation by approximately 48%

Bitget, in collaboration with the digital asset research institution Block Scholes, has released the latest research report analyzing the synergistic effects of tokenized stocks and crypto assets within a unified trading account. In the report, Block Scholes simulated an investment portfolio with a total size of $1 million, covering AI and semiconductor tokenized stocks, BTC and ETH perpetual contracts, as well as Nasdaq 100 ETF perpetual contracts. Under a structure where accounts are mutually independent, the total margin required occupies about $340,000 in capital; however, in Bitget's cross-asset unified account, tokenized stocks can simultaneously be counted as collateral, reducing the required capital to about $175,000, a decrease of approximately 48.5%.

The research report also analyzes the risk characteristics associated with higher capital efficiency. Stress tests show that when collateral and positions are driven by the same macro factors, the simulated portfolio using tokenized stocks as collateral reaches the estimated liquidation point after a market decline of about 21% in correlation; when using equivalent USDT as collateral, it withstands a decline of about 27% in correlation. The study indicates that while improving capital efficiency, it is also necessary to comprehensively assess the correlation between collateral and positions as well as their own volatility.

Bitget CEO Gracy Chen stated that putting assets on-chain is just the first step; more importantly, it is to enhance the efficiency of capital usage across different markets. Bitget is promoting the collaborative operation of crypto assets, tokenized stocks, and other global assets under a unified capital framework through the UEX model. Currently, Bitget's cross-asset unified account (UTA) supports over 370 types of collateralizable assets, including 125 types of tokenized U.S. stocks. Eligible crypto assets and tokenized stocks can enter the same margin system, sharing collateral value and meeting margin requirements for different positions.