Bitget's IPO Prime Launches First Pre-IPO Asset: SpaceX and Republic Crypto Partnership

Bitget's IPO Prime has taken a significant step towards realizing its vision of creating a Universal Exchange (UEX) by launching its first Pre-IPO asset, SpaceX. The company's goal is to include all global assets that users are interested in trading, and SpaceX represents humanity's future as an anchor point for strengthening the UEX trend.

The selection of SpaceX was not arbitrary; Bitget wanted a project that would set the tone for its IPO Prime offerings. Republic Crypto was chosen as the partner due to their compliance qualifications in multiple jurisdictions and end-to-end RWA service capacity, making them one of the few global platforms with such capabilities. The partnership model used by Bitget and Republic involves holding Pre-IPO equity through an independent SPV and tokenizing the rights of the SPV.

The launch of SpaceX as a Pre-IPO asset comes at a time when the market has become increasingly chaotic. Market pricing became unstable after SpaceX acquired xAI, and underlying assets were restricted from transfer. Bitget had to re-verify the assets, coordinate with equity sellers, and persuade Republic's compliance officer amidst repeated contract details among various departments within Bitget.

Bitget is committed to lowering subscription thresholds and has secured a share of about 6000w USD in the total pool, allowing users to subscribe using USDT. The company also designed a free airdrop for VIP users, sharing the vision of Web3 users with top venture capitalists like Musk.