Cryptocurrency Collateral: Bitget Introduces rToken Guide for Institutional Investors

Bitget has released a guide for institutional clients on how to use cryptocurrency collateral alongside tokenized stocks within a unified margin framework. The focus is on rToken tokens, which allow cryptocurrencies, American company stocks, and borrowed funds to operate within a single strategy without the need for constant fund transfers between different accounts.

rToken is the RWA token of the Reality platform, supported by Bitget. Their tickers have the prefix "r": for example, rTSLA corresponds to Tesla stocks, and rAAPL corresponds to Apple stocks. The underlying assets are held by a broker registered with FINRA and participating in the SIPC insurance program.

Reality already supports 500 tokenized US stocks and ETFs. Among the available securities are:

• Intel;
• Nokia;
• SpaceX;
• Nvidia.

The assets under management of the platform have exceeded $100 million.

The proposed schemes are built around the Cross-Asset Unified Account, or UTA. This account accepts 370 assets as collateral, including 100 US stocks. The overall margin pool includes:

• cryptocurrencies;
• tokenized securities.

This way, investors do not need to split their capital across separate accounts.

How Cryptocurrency Collateral Works

Cryptocurrency collateral is a digital asset that the borrower places as security for a loan or trading position. While the obligation is active, the collateral is held according to the platform or protocol rules and serves as protection for the lender in case the borrower fails to return the funds or the value of the collateral sharply declines.

A loan can be taken against cryptocurrency collateral without selling the actual asset: the owner places Bitcoin, Ethereum, or another supported asset, receives liquidity in the available currency, and monitors the collateral level. The terms usually depend on the list of supported assets, interest rates, duration, storage rules, and allowable LTV. If the market moves against the borrower and the margin reserve is insufficient, part of the position or the entire collateral may be liquidated.

If an investor lends money against cryptocurrency collateral, they act as a lender: providing liquidity, earning interest, and the crypto collateral reduces the risk of default. When the borrower breaches the terms or the value of the collateral falls below the acceptable level, the collateral may be sold to close the debt.

LTV: A Metric That Determines Buffer Strength

LTV shows the ratio of the loan amount to the value of the collateral. If the borrower takes $5,000 against assets worth $10,000, the LTV is 50%. The higher the LTV, the more money can be obtained immediately, but the less buffer there is before a margin call or liquidation occurs when the collateral price falls.

Where to Get Crypto Loans and What to Look For

In the market, cryptocurrency collateral loans are offered by both centralized platforms and DeFi protocols:

• Binance, Nexo, and YouHodler are centralized services where the loan terms, asset lists, limits, and storage rules are set by the platform;
• Aave and MakerDAO are DeFi protocols where loans are arranged through smart contracts, and parameters depend on the protocol rules.

Ruble loans against crypto collateral are only possible where the platform directly supports transactions in rubles and operates within the required jurisdiction. For residents of the Russian Federation, local restrictions, contractual bases, taxes, and the accounting of operations with digital assets are important.

To reduce the risk of losing collateral due to hacking or technical failures, it is advisable to pay attention to the asset storage model, reserve audits, insurance if provided, incident history, two-factor authentication, and withdrawal rules.

How Bitget Suggests Using Common Collateral

The idea behind UTA is that a single asset can support multiple market positions simultaneously. For a large market participant, this is not just about access to new instruments, but also about capital efficiency: investments in stocks, positions in Bitcoin, and derivatives can be integrated into one system.

• Buying stocks without selling cryptocurrencies. An institutional fund can deposit Bitcoin or Ethereum as collateral, borrow USDT, and purchase rNVDA or rTSLA in the same account. A leverage of up to 5x is available for spot positions, while the underlying crypto portfolio remains unsold.
• Carry trade on rSTRC. rSTRC is a tokenized version of Strategy's preferred shares. The liquidation nominal is $100, the market price hovers around $88, and the annual dividend is $12 per token. Payments are calculated from the full nominal of the position, while interest is charged only on the borrowed part. According to Bitget's calculations, with 3x leverage and a 2% rate, the net yield can reach 36.8% per annum compared to 13.6% without leverage.
• Stocks as margin for crypto futures. Tokens like rNVDA, rTSLA, and similar instruments can be used to secure positions in BTC and ETH. Meanwhile, investments in the stocks themselves are preserved.
• Cheaper financing. USDT against Bitcoin and Ethereum: Bitget's rate is 2.5% per annum, while competitors, according to Bitget, start from 3.7%. Funds can be directed to crypto positions, purchasing tokenized stocks, or trading gold and oil through a CFD account.
• USDC against Bitcoin and Ethereum: Bitget's rate is 3.3% per annum, while competitors, according to Bitget, start from 3.7%. The uses are the same: crypto positions, tokenized stocks, gold, and oil through a CFD account.
• Choice between overall efficiency and risk isolation. The UTA loan mode combines the margin pool with other positions and allows for mutual accounting of profits and losses. Crypto Loans, on the other hand, assess risk separately, so the failure of one strategy should not automatically affect the entire account.

"Institutional investors already have access to stock markets. Now the task is for capital to work simultaneously across multiple markets. As tokenized assets enter institutional portfolios, the focus shifts from ensuring access to assets to more efficient capital allocation," said Bitget CEO Gracy Chen.

Pros and Risks: Liquidity Without Selling the Asset, But with Liquidation Threat

Crypto loans can be convenient when quick liquidity is needed without selling the underlying asset. This approach provides more flexibility: capital can be directed into a new deal, maintain a long-term position, or combine several strategies within one margin framework.

However, a unified collateral pool works both ways. If tokenized stocks decrease in price, this can accelerate the liquidation of the cryptocurrency collateral. In terms of risk, any asset in the accounting of such a strategy needs to be evaluated not separately, but considering the entire related position.

The main risks are associated with collateral volatility, rising LTV, margin calls, and forced liquidation. These are compounded by technical failures, potential attacks on the platform or protocol, as well as legal restrictions in specific jurisdictions.

A floating interest rate also remains an important factor. A positive spread is not guaranteed: if the cost of financing rises, the estimated yield can deteriorate sharply. In such conditions, credit and borrowing become not just sources of liquidity but a separate source of risk.

For rSTRC, there are additional restrictions. Redemption is only available during specific windows, and the cancellation of dividends undermines the yield model. Investors are advised to assess the creditworthiness of Strategy independently.

From the perspective of collateral in civil law, such instruments should not be perceived as a complete analog of traditional bank guarantees. For participants from Russia, local requirements, the Central Bank of Russia's approach to operations with digital assets and investment products, as well as tax accounting, are additionally important: it is better to fix interest, income, and asset movements in advance to correctly reflect them in declarations.

How This Fits into Bitget's Strategy

The data in this guide is as of July 22, 2026. The document is published on The Block platform at the request of Bitget.

This initiative continues the Universal Exchange (UEX) strategy. Within its framework, Bitget integrates digital assets, stocks, commodity instruments, and the currency market into a single trading environment. Access to tokenized securities is opened after registering an account on Bitget.

Earlier, ForkLog analyzed the UEX concept and how it connects the crypto market with traditional finance.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.