Bitget has introduced an innovative security framework designed to transform how multi-asset trading platforms approach risk management. In collaboration with blockchain security firm BlockSec, the company released “The UEX Security Standard: From Proof to Protection,” a research report that advocates for a system-level approach to security specifically tailored for Universal Exchanges. These are platforms that integrate cryptocurrency, tokenized assets, and traditional financial products within a single account structure.
As trading environments increasingly merge different asset classes, they provide features such as unified margining, shared settlement infrastructure, and cross-market access. Although these advancements enhance capital efficiency and create a seamless user experience, they also introduce new vulnerabilities that can lead to widespread failures across the platform. The UEX Security Standard aims to address this complexity, shifting the conversation in the industry from isolated protective measures to a framework focused on continuous and verifiable resilience across the entire exchange structure.
The Universal Exchange concept was first articulated by Bitget’s CEO, Gracy Chen, during the company’s seventh anniversary celebration. This approach reflects a significant trend toward converging cryptocurrency markets with traditional finance. The report outlines how this shift fundamentally changes the threat model for exchanges. Traditional crypto platforms primarily address security concerns such as wallet safety, smart contract audits, and on-chain monitoring. In contrast, Universal Exchanges must tackle a more intricate web of risks, including shared account permissions, unified margin systems, pricing discrepancies across asset classes, and dependencies on off-chain operations. Failures in any part of the system can now lead to cascading problems affecting derivatives, spot crypto, tokenized equities, and even conventional financial products, amplifying potential financial and reputational repercussions.
“Security can no longer focus on individual assets or reactive disclosure. It must operate at the system level,” Chen stated, emphasizing the need for early risk identification, isolation by design, and verification under real-world conditions.
The report prescribes five benchmarks that constitute the UEX Security Standard, designed to guide next-generation exchanges. These benchmarks cover:
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Verifiable Solvency: Moving beyond mere periodic disclosures, this benchmark emphasizes ongoing validation of asset backing and liabilities across asset classes, especially in a shared margin environment.
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Multi-Asset Risk Isolation: This involves architectural strategies ensuring that a failure in one asset class does not compromise others, incorporating controls for permissions, account segmentation, and safeguards for liquidation and settlement processes.
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Data Security and Privacy Protection: This benchmark highlights the need to address the expanded attack surface created by unified user profiles and integrations with off-chain systems, asserting that data integrity is critical to market trust.
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AI-Driven Dynamic Monitoring: Reflecting the growing role of automation, this aspect focuses on real-time threat detection and adaptive security models that evolve as market conditions change, rather than relying on static rules.
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Resilient Application and Infrastructure Defense: This encompasses testing, redundancy, and preparedness for incidents across both on-chain and off-chain components, recognizing that failures in any layer can disrupt the entire platform.
In establishing these benchmarks, the UEX Security Standard aims not only to deliver a theoretical model but to ground its framework in operational realities already evident at Bitget. The company’s regular Proof of Reserves reporting and its Protection Fund are fundamental elements of their commitment to verifiable solvency and user security. Collaboration with BlockSec enhances this with real-time monitoring, offensive security evaluations, and preparedness for incident responses, while also incorporating regulatory compliance measures like AML screening.
From BlockSec’s perspective, this initiative represents a pivotal moment for the industry. As co-founder and CEO Yajin Zhou noted, “When you combine crypto-native assets with stocks, ETFs, and other off-chain instruments, the security boundary expands dramatically.” He stressed the need for platforms to ensure both asset transparency and pricing integrity across all markets.
Moreover, the report underscores the importance of transparency, emergency response protocols, and user education as foundational elements of a robust security strategy, urging that security should be an operational discipline rather than a mere checklist.
By solidifying its framework in actionable controls and operational procedures, the UEX Security Standard aspires to elevate exchange security from theoretical concepts to verifiable, real-world protections. This initiative is not just a guideline for exchanges but also serves as a vital resource for regulators and institutional investors evaluating the risks inherent in unified, multi-asset trading environments. As Universal Exchanges proliferate, the UEX Security Standard is positioned as a seminal reference for ensuring trust and resilience amid increasing market complexity.
