In a significant advancement for the decentralized finance (DeFi) landscape, Bitget Wallet has announced an upgrade to its DEX Aggregator API that allows for market-order trading of tokenized real-world assets (RWAs), including tokenized equities. This upgrade is set to enable partner platforms to execute direct trades from any token to tokenized stocks through the same API traditionally used for crypto swaps.
The realm of tokenized real-world assets has recently expanded, boasting a total on-chain value of $31 billion, of which $1.6 billion is attributed to tokenized equities. Despite this growth, trading these assets on-chain has faced challenges due to unreliable infrastructure that often limits platforms to either accurate pricing with poor fill rates or flexible routing with scant liquidity. However, Bitget Wallet’s upgrade aims to bridge this gap by providing both reliability and market efficiency without imposing market-making risks on partners.
Introducing a pioneering all-request-for-quote (RFQ) multi-hop routing model, the system ensures that every component of a trade receives liquidity confirmation prior to being submitted on-chain. This innovation addresses the persistent partial-fill issue that has impeded efficient trading of any token to RWAs, thus enhancing the practicality of such transactions.
Initial partnerships for this upgrade include notable integrations with Ondo Finance and xStocks, with additional collaborations on the horizon. The new system facilitates the trading of various tokenized real-world assets involving US-listed equities, American Depository Receipts (ADRs), and a diverse selection of Exchange-Traded Funds (ETFs). This includes broad market indices, sector-specific funds, themed investments, fixed income assets, commodities, and regional market options. Users can now buy and sell these assets through a unified interface without the need to exit the platform, benefiting from pricing updates every five seconds.
Alvin Kan, COO of Bitget Wallet, emphasized the ongoing liquidity challenges within the RWA market, stating, “What we’ve built is a routing architecture that makes RFQ work the way market participants actually need it to — deterministic, fast, and without requiring integrators to take on market-making risk.” He believes this upgrade represents a crucial component missing from the current market framework.
Bitget Wallet’s API serves as a centralized connection point for token swaps, cross-chain transactions, real-time market data, and the newly introduced RWA trading functionality. The API currently processes over $20 million in daily trading volume across its aggregator partners, which include renowned names like 0x, LI.FI, CoW Swap, deBridge, and XOSwap. Furthermore, the upgrade integrates a fee collection service, simplifying the process for partners to manage and settle transaction fees via Bitget Wallet’s billing infrastructure.
Documentation and onboarding resources for partners are accessible on Bitget’s enterprise website. Bitget Wallet positions itself as a versatile finance app tailored to make cryptocurrency accessible and secure for everyday use, boasting over 90 million users globally. The app provides a comprehensive platform for crypto swapping, earning, and payment in stablecoins through crypto cards. With a robust focus on user security, Bitget Wallet operates as a fully self-custodial wallet, ensuring that users maintain control over their funds, private keys, and data, while transactions are securely executed on public blockchains.
