Bitget launches US stock IPO subscription service, first supports stablecoin subscriptions for SpaceX

Foresight News reports that Bitget has launched IPO Prime, the first subscription service for US stock IPOs, further extending the UEX boundary into the primary market. The service aims to break the traditional private investment barriers and provide global users with a new channel to participate in the potential economic returns of unicorn companies before their public listing. The first listed asset is preSPAX, a digital token issued by the regulated issuer Republic, designed to mirror the economic performance of SpaceX after its IPO at a 1:1 ratio. SpaceX was founded in 2002 by Elon Musk.

Bitget IPO Prime adopts a subscription model, allowing users to obtain corresponding subscription quotas based on their VIP level. After token allocation, users can trade on the soon-to-open over-the-counter market; or, after the preSPAX underlying debt asset lock-up period ends, the issuer will authorize Bitget to exchange preSPAX for stock tokens or USDT for users, referencing the stock market price of the underlying enterprise.

IPO Prime details:

- Implied valuation of SpaceX: $1.5 trillion

- Total IPO Prime subscription quantity: 94,000

- Total subscription value: $61,100,000

- Subscription price: 1 preSPAX = $650

- Subscription currencies: USDT or USDGO

- Maximum total pool: $1,000,000,000

- Individual subscription range: $1,000-$300,000

- Subscription period: April 18, 14:00 (UTC+8) to April 21, 14:00 (UTC+8)

- Allocation period: April 21, 14:00 (UTC+8) to April 21, 18:00 (UTC+8)

- OTC trading opens: April 21, 20:00:00 (UTC+8)