Encryption users don't want to sell money anymore。

Pre-IPO, US stock, gold, US debt earnings, foreign exchange hedges, and they want high levels of overlap with traditional financial users. The difference is that encrypted users have USDT and they're used to 24-hour uninterrupted markets. The most direct evidence is TradeXYZ, the DeFi's most advanced derivative agreement, which in the past few months has seen a surge in non-encrypted asset transactions, proving that 24/7's traditional asset transaction demand is real, huge and accelerating。

So imagine a scenario in which an encrypted user wants to do empty Tesla's financials, try to use gold against BTC's downside risk, try to take a break from SpaceX, try 24/7 on a silver-for-all contract, and finally try to put idle stabilizers in BlackRock BuIDL to eat dollar gains。

FOLLOWING THE TRADITIONAL PATH, USERS MAY NEED FOUR OR FIVE PLATFORMS. A U.S. COUPON ACCOUNT, REGISTRATION OF A MT5 FOREIGN EXCHANGE PLATFORM, FINDING A COMPLIANCE RWA PROTOCOL, AND RETURNING TO THE ENCRYPTION FACILITY. DIFFERENT KYCS, THREE CLEARING CURRENCIES, TWO LIQUIDATION SYSTEMS, MAY TAKE THREE DAYS TO MOVE FUNDS ACROSS PLATFORMS。

But today, all these functions can be performed in a Gate App。

TradFi, what should it look like

The TradFi product of Gate consists of five main categories: CFFD, Lending Contract, Cash, Pre-IPOs, and ETF. In addition to this, Gate has made more tradfis available on the line, including options, financial management, Alpha, flash, documentary, DEX, quantitative robots, etc。

Among them, Gate's most recent product line is still TradFi CFC。

C.F.D. refers to a price differential for Difference, a financial contract that does not hold physical assets, trades only at low prices, and uses USDT to make more than empty gold, equity and foreign exchange. As of May 2026, Gate had reached more than 440 CFC targets covering foreign exchange mainstream currencies, precious metals (gold, silver, platinum, gold), global equity (NAS 100, SPX 500, UK 100, US 30, HK50, JPN 225), bulk commodities (WTI crude oil, Brent crude oil, copper) and American and port shares. It's still new at 10 to 20 times a day, with a single-day peak of over $25 billion。

When a user transfers USDT to a CDF account, the system is automatically shown as USDx at 1:1 as a single bond and unit of account. The USDx is an internal accounting unit that can be exchanged for USDT at 1:1 at any time, with no exchange losses and no handling fees. The significance of this design is that users will no longer have to consider cross-product funds transfers. All TradFi CFD operations share the same pool of bonds, and cross-product hedges, rotations and arbitrage are raised to the same level of fund efficiency as secure and sustainable contracts。

The CFC is the entry point for Gate TradFi, which is the most direct stock market logic in the industry. The global CEX, which in 2025 traded about US$ 19 trillion in spot trade (CryptoRank data), sounds big, but it appears to be moving in traditional market coordinates. According to data from Bloomberg and the World Federation of Exchanges, the global stock market is in the order of $1.5 trillion a year; the average foreign exchange-rate transactions disclosed by the Bank for International Settlements in its triennial foreign exchange survey of 2022 amounted to $7.5 trillion, and the latest agency estimates have surpassed $9 trillion。

Crypto is the pond, TradFi is the sea. "Seriously, we're late, we're tickling early, and we feel like we need to do TradFi. Earlier, Gate founder Dr. Han said in an interview with Block Beats。

"At the beginning of last year, we thought that Cripto's product was almost homogenous: cash, contracts, money management, Web3 wallets, that's all the same. We feel like we're ready, business is here, and we start pushing. It turns out that the market space and user demand are far greater than we thought and that regret should begin years earlier.”

For Gate, the Chinese-speaking top three trading platforms, the marginal gains of continuing to rob users in the encryption pool are rapidly diminishing, and the more than 440 CFFDs on-line of TradeFi CFFD are the only indicators of Gate's strategy against this industry's structural problems。

Another product line is the contract of continuity of traditional assets。

Gate's current contract for the continuation of traditional assets is online for over 160 transactions. For the same bottom asset, such as gold, the user can choose to go with the CFC (dealing on London and New York time slots, with overnight fees) or with a permanent contract (24/7 not stop, at a fund rate). This two-track design is the key point for Gate to distinguish from other trading platforms, and it is the world's first trading platform to match xStocks spot and token stock contracts for perpetuity, creating a product that did not exist before。

There are 75 physical items that are directly linked to the Ondo and xStocks head frames, all 1:1 physical endorsements。

There is a deeper layer behind tokenized stocks. RWA.xyz real-time data show that the total size of RWA on the chain (excluding stable currency) has exceeded $30.1 billion and has been growing at 9.25 per cent over the past 30 days. Of these, monetized dollar-based bonds account for almost half of the world's most important banks, amounting to more than $15 billion; monetized commodities, $5.55 billion, dominated by two giants, BUDLL in BlackRock and XAUT in Tether; and monetized stocks, from almost zero in the middle of 2025 to nearly $500 million by the end of the first quarter of 2026. Each track runs out of an independent demand curve。

So, Gate simultaneously made a permanent contract for tokenization of shares and matching them with a certain number of times, and tied both sides to liquidity。

And finally, this year's hot Pre-IPO hit the new market. From 20 to 22 April 2026, Gate went online for the Pre-IPO project SAPX, marked SpaceX. Subscription threshold 100 USDT, unit price $590, corresponding to the valuation of SpaceX of approximately $1.4 trillion. Total quota 33,900 SAPX, approximately $20 million。

The market response was extremely strong. Within 24 hours, total requisitions exceeded $353 million, which was nearly 18 times greater than the actual quota of $20 million. This reveals that the demand of ordinary investors for the head unicorn Pre-IPO assets has been suppressed for a long time, and that demand has been released instantaneously after the threshold dropped from the previous few million dollars to 100 USDT。

The CFD is a flow entry that corresponds to the logic of the stock market; it is an extension of 24/7, tokenized shares are spot configurations, RWA is a robust gain, responding to the diverse needs of users; Pre-IPO opens up to ordinary users the unicorn assets that were previously accessible only to professional institutions. The same account, the same bond, the Unified System of Accounts, that's the hardest thing for Gate to copy in early 2026。

Actual

After the introduction of the product line, let's now feel the product itself。

First we can see tradable CFC. The contract asset page can be seen, and Gate has a different selling point: multiple leverage. After all, all the other CEX TradFi CFDs in the industry are fixed leverage, which is set unilaterally by the platform and the user cannot choose。

In other words, Gate moved the "leveraging" logic of the code-renewable contract to the side of TradFi CFD. For example, the modifiable leverage of gold and crude oil, which now stands at 20, 50, 100, 200, 500, which is a five-storey multiple. Silver is 10, 20, 50, 100 for this four. Other unleverable assets remain at a maximum of 500 times the fixed slot, and all traded varieties are subject to some leverage constraints during periods of low market liquidity or higher risk of price volatility。

The first leverage assets landed were two precious metals, gold and silver. It was then extended to crude oil (XTIUSD, XBRUSD), hot-gate indices (NAS 100, GER 40, HK50, US500, US30) and hot-door foreign exchange (USDJPY, EURUSD). From this extended path, it is clear from Gate ' s market judgement that gold and silver bets on assets that have been the most familiar in the past six months to be encrypted to absconding, and then covered to crude oil, indices, and foreign exchange layers. The first contact with TradFi, which was attracted to the gold bank, allowed them to open themselves in the way they knew it。

And the traditional slide-down leverage model in encrypted assets, Gate makes each leverage slot an independent trade pair. The first reaction was, "This design is a little out of tune," but I changed my mind when I ran two pieces: Because each of the slots is a stand-alone contract, I can hold both a high-leverage short-line warehouse at XAUSD200 and a low-leverage-band warehouse at XAUSD20, both of which do not affect each other and provide users with more detailed space for space management。

Next is the experience of Gate on the CFFD function. App has a TSLA limit list that can be seen right away at the Web end, on the price I set. The other way around the Web end, and the App end immediately. The bottom-up access to the MT5 coupling system ensures the quality of implementation, which is Gate ' s infrastructure choice for traditional asset transactions。

This degree of synchronization is essentially a default configuration for encrypted original users, but it is essential to ensure that both ends of the function remain waterproof, such as loss and loss, condition sheets, additional security These actions are fully operational on App and Web and do not require a high-level functional cuter。

The closing fee was also a major selling point, with the United States CFD having a minimum of $0.018 per hand, far lower than the offer from the same industry. In addition, the volume of TradeFi transactions has been incorporated into the Gate VIP system, and the return of fees for CFFD can be folded into the original spot and contract VIP levels, which substantially reduces costs for high frequency users. In addition to that, the TradFi feature is on line; the API is open, and the quantitative team can get in。

After running around, my judgment on Gate TradFi is that what really distinguishes the end of the product is not a single function, but the logic and aesthetics of "a product-form of traditional finance with encryption user habits."。

In addition to three M&As, it's the Gate Road

Starting in 2025, the CTS has accelerated collectively on the TradFi battlefield, and three landmark mergers and acquisitions have stymied the pace of the industry。

At the earliest in May, Ripple bought Hidden Road for $1.25 billion, taking into account the multi-assessed assets of more than 300 corporate clients around the world, with the goal of establishing an encrypted institutional clearing infrastructure. Next, Kraken took Ninja Trader with $1.5 billion, looking at the latter's CFTC futures licence, a compliance pass that was virtually extinct in an encrypted exchange. The most heavy one comes from Coinbase, $2.9 billion to acquire the world's leading encryption power, Deribit, to complete institutional options。

Three heads CEX voted in real money: the fastest way to get into TradFi is to buy. But Gate chose to build itself。

The product is judged to have no more than two dimensions, its breadth and its assets。

In terms of product breadth, there are currently more than 10 product lines running at the same time, with only the Gates, C.F.D., R.O.O., Pre-IPOs, ETF, options, finance, Alpha, flash, documentary, DEX, quantitative robots, etc。

In terms of the breadth of assets, Gate covers large commodities, precious metals, traditional stock markets, large numbers of indices, foreign exchange, and is currently the most complete of its peers。

In addition, leverage is currently the exclusive of Gate. This is not done by the second。

With regard to compliance support, according to Gate Official Disclosure and Gate Group ' s Legal/licenses page, the company currently holds licences or registrations in more than 81 jurisdictions and has been providing independently audited certificates of reserves since 2020。

But the risk of self-building is clear. Depth requires time testing. Gate ' s rivalry liquidity, market system and settlement stability are subject to long-term testing, depending on the transaction data for the following year. The M & As path is a mature stock system, and the self-build path is a new system from scratch. The former is immediately available but has integration costs, while the latter takes time to grind but is more compatible. Which one's better, 2026 will not have answers by the end of the year。

But Dr. Han himself has a clearer judgment about the competition. Block Beats asked him which of the traditional issuers is better at doing encryption in reverse (Fuventway, Tiger, etc.), and the encryption exchange is doing traditional assets, cross-cutting。

"I think the circle is much more competitive," he said, "Traditional institutions are basically restrained, the objective environment limits the way they do things, and their cost of getting a customer can be hundreds of dollars. Currency circles vary, with very low cost, technology-driven and demand-driven. So what you can see is that Kate grew fast after he got to traditional assets, but then the traditional coupons got to Crypto, and Crypto's share in their overall business was still very low

This determination will ultimately depend on the change in the share of encryption in these traditional multi-asset platforms, Richey, Tiger and Schwab. But Dr. Han's honesty is that he did not treat this structural advantage as the Gate family's moat, and he admitted that it was the dividend of the entire circle。

Gate has already taken the first step, but it will take some time to match the traditional multi-asset platforms such as Charles Schwab (Customs), Richey, Tiger Securities, Interactive Brokers (Interactive Securities)。