After reading Reality's announcement for a long time, I can basically classify it into one thing: Real securities custody+rToken on chain mapping+Bitget unified account integration RWA wrapper. Simply put, Reality does not simply issue a "stock coin" out of thin air, but rather has real US stocks and ETF custody on the backend, and the frontend packages these assets into rToken on the chain. For example, if you buy the rToken corresponding to Nvidia, theoretically it corresponds to a 1:1 supported real NVDA exposure. To better understand: The early model of Futu and Tiger was that the front-end platform was responsible for customer acquisition and user experience, while the back-end was connected to the US securities trading, clearing, and custody system. Reality is a bit like an encrypted version of this logic. The difference is that Futu and Tiger only allow you to buy stocks in your securities account; Reality is the process of tokenizing stocks into rToken and then integrating them into Bitget's account system. This is the key point. Many people think that Reality is for cryptocurrency users to buy US stocks, but in fact, this is just the first layer. The real trick is: Transform US stocks into collateral assets in encrypted trading accounts. Previously, when you held NVIDIA in traditional securities firms, it could only stay in the securities account for fluctuations. But if Nvidia is packaged as an rToken, in the future, it may enter Bitget's unified account and become a margin asset after being allowed by platform rules and collateral conversion. in other words: You hold NVDA rToken, not only to gain exposure to US stocks, but also to support margin requirements for BTC, ETH, or other trading instruments. It's not just about buying US stocks in the cryptocurrency market. But instead, traditional financial assets such as US stocks and ETFs are stuffed into the unified accounts, leverage, lending, wealth management, structured products, and even future on chain DeFi of cryptocurrency exchanges.