Bitget and Block Scholes jointly released a research report showing that capital requirements can be reduced by approximately 48% when using a cross-asset unified account.

On October 7, Bitget, in collaboration with digital asset research firm Block Scholes, released its latest research report analyzing the synergies between tokenized stocks and crypto assets within a unified trading account. In the report, Block Scholes simulates a $1 million portfolio encompassing AI and semiconductor tokenized stocks, BTC and ETH perpetual contracts, and a Nasdaq 100 ETF perpetual contract. Under a structure where accounts are kept separate, the combined margin requirements would tie up approximately $340,000 in capital; whereas in Bitget’s cross-asset Unified Trading Account, tokenized stocks can be counted simultaneously as collateral, reducing the required capital commitment to approximately $175,000—a decrease of roughly 48.5%.

The report also analyzes the risk characteristics accompanying higher capital efficiency. Stress testing shows that when collateral and positions are driven by identical macroeconomic factors, the simulated portfolio using tokenized stocks as collateral reaches its estimated liquidation point following a correlated market decline of approximately 21%; using an equivalent value of USDT as collateral allows the portfolio to withstand a correlated decline of about 27%. The study indicates that alongside enhancing capital efficiency, it is essential to comprehensively evaluate the correlation between collateral and positions, as well as their respective volatilities.

Bitget CEO Gracy Chen stated that bringing assets on-chain is merely the first step; what matters more is improving the efficiency of capital usage across different markets. Bitget is leveraging its UEX model to drive the collaborative operation of crypto assets, tokenized stocks, and other global assets under a unified capital framework. Currently, Bitget’s cross-asset Unified Trading Account (UTA) supports over 370 eligible collateral assets, including 125 tokenized US stocks. Eligible crypto assets and tokenized stocks can enter a single margin system, sharing collateral value to fulfill the margin requirements for various positions.