The first cryptocurrency to launch US stock margin trading (securities lending, options preparation): BIT is bringing the leverage capabilities of traditional securities firms into the crypto native world If you are someone who has been paying long-term attention to cryptocurrency asset allocation, you may have become accustomed to the fact that in the world of Crypto, financial efficiency is always a scarce commodity. USDT earns a current return on the exchange, while BTC mortgage lending rates fluctuate. To use leverage to gain excess returns, one often has to repeatedly move assets between multiple platforms, increasing operational risk and friction costs. And when your gaze turns to the US stock market - one of the strongest asset classes in the world in terms of wealth effect - this issue becomes even more prominent. The financing and securities lending system of traditional securities firms is mature, but the account opening process, bank card binding, and cross-border fund flow are still barriers for many native users of cryptocurrency. The result is that even though you hold digital assets, it is difficult for you to directly and efficiently 'borrow' this capital and invest it in the US stock market. On June 23rd, BIT (formerly Matrixport) officially announced that it will open the open beta of Margin Trading on June 26th, becoming the first platform in the cryptocurrency industry to offer this feature. This is not an isolated feature update, but a crucial link added by BIT to the US stock brokerage capability chain that has been continuously built over the past few months. What is the difference between "being able to buy US stocks" and "being able to raise funds to buy US stocks" Looking back at the evolution path of the BIT product line, a clear logic can be found: first solve the deposit channel problem (USDT/USDC direct deposit and withdrawal into US stock accounts, without the need for overseas bank cards), then solve the compliance and equity issues (access to licensed securities firms, enjoying real shareholder rights, dividends, and voting rights, rather than CFD contracts), and now solve the leverage problem of funds. After completing these three steps, it means that an encrypted user can theoretically complete the transition from "holding stablecoins" to "participating in US stock trading with leveraged funds" in the same ecosystem and account system, without relying on bank cards or leaving the operational logic of digital assets. This is exactly what Elio Cui, the head of BIT brokerage business, emphasized in the announcement - the financing function adds the final puzzle on the link of "account opening, trading, and fund leverage". Why this feature may be underestimated As of now, other encrypted platforms that have launched US stock trading have not yet opened up US stock financing trading, and BIT is the first to do so. This matter may seem like an 'additional leverage function', but behind it lies a complete set of securities firm infrastructure capabilities. To enable users to 'raise funds to buy US stocks', the prerequisite is that the platform has real stock holdings, a real clearing system, margin management mechanism, risk control system, and brokerage level operational experience to support the entire process. This is also why in traditional financial markets, margin trading and securities lending have always been regarded as standard capabilities of mature securities firms - not services that can be provided by any trading matching platform, but functions that require a considerable level of maturity in the backend clearing and risk control system to be opened. For encrypted users, the difference in actual experience is also very intuitive: USDT can be directly deposited, financing can be used to buy targets such as NVDA, TSLA, META, etc., without leaving the encrypted asset system throughout the process. Here can be a rough comparison calculation (based on average data, for illustrative purposes only, not constituting investment advice): using 2 times leverage, holding for 30 days, the main stock will rise by 10%—— Through BIT US stock financing: net profit of approximately $19600 Perpetual Contract in the Coin Circle: The capital rate consumes approximately $1800 in costs, resulting in approximately $17800 in revenue The difference mainly comes from the different cost structures of funds: US stock financing calculates interest based on the financing balance, while the funding rate of perpetual contracts fluctuates frequently with market sentiment and position direction, and the implicit cost of long-term holding may not be lower than it appears. That's also why the question of 'what tool to use to leverage' itself is worth re evaluating. Incentives during the public beta period: interest free first loan, minimizing decision-making costs The biggest concern for users with any new feature involving leverage is often not whether it is easy to use, but whether it is worth taking the risk to try. The strategy of BIT this time is very direct: users who use financing for the first time during the public beta period will receive zero interest on their first loan for 30 days; On the regular rate, overnight financing under $20000 is interest free, with a minimum annualized rate of 3% for any excess. The intention of this design is very clear - to enable users to fully experience the financial efficiency of a leveraged transaction with real costs close to zero, rather than relying on marketing rhetoric to convince you of the value of leverage. For encryption users who are accustomed to being frugal, this "experience first, judge later" path is often more convincing than simply offering discounted rates. Leverage is a double-edged sword, and the reminder from BIT is also worth taking seriously The BIT in the announcement also clearly indicates the risks: while financing transactions improve capital efficiency, they are accompanied by corresponding margin and forced liquidation risks. Users need to fully understand the rules and participate according to their own risk tolerance. This is not a polite disclaimer - leveraged trading essentially amplifies volatility, making quick profits and quick losses, especially without a complete understanding of margin maintenance rates, margin call mechanisms, and forced liquidation logic. Blindly increasing leverage can easily turn short-term fluctuations into substantial losses. For users who want to try this feature, it is recommended to clarify at least three things: which dimensions will be considered in account review to determine the financing amount, where the red line for margin ratio is, and what the risk control trigger logic of the platform is in extreme market conditions. Interest free policy only reduces the cost of trial and error, but it does not necessarily mean a decrease in market risk. In conclusion The encryption industry has been telling the story of the integration of traditional finance and digital assets in the past few years, but most attempts have been limited to providing users with indirect access to US stocks (such as tokenized assets or CFD). The difference of BIT this time is that it takes a more "hardcore" path - directly connecting with the licensed brokerage system, integrating the complete trading capabilities of real US stocks, including current financing leverage, into the encrypted account system. At present, functions such as securities lending and options are also being continuously promoted. If these capabilities are gradually implemented, BIT will provide a US stock trading infrastructure that is close to the integrity of traditional top securities firms - and the starting point of all of this is the USDT in the hands of users. Of course, leverage has never been a free lunch. Tool usability and risk control are always two things that need to be grasped simultaneously.