Bitget has integrated Siebly.io software development kits covering two API systems and multiple trading products as the exchange seeks to reduce the work required to build crypto applications.

According to Bitget, the developer platform now provides SDKs for its V3 Unified Trading Account API and V2 Classic API. The software gives JavaScript and TypeScript developers ready-made access to spot trading, futures, copy trading, live market data and private account functions.

The integration is intended for teams building trading bots, automated strategies and market-data applications. Bitget explained that the SDKs remove the need to create every exchange connection from the beginning, a process that can consume development time and introduce technical errors.

Developers can also use Bitget’s WebSocket API through the toolkit. Unlike repeated HTTP requests, a WebSocket maintains an active connection between an application and the exchange, allowing market updates and responses to move with less network overhead.

Security options include HMAC, RSA and Ed25519 authentication, according to the exchange. These methods let developers choose how their applications verify requests when accessing trading accounts or other protected parts of Bitget’s infrastructure.

Siebly SDKs cut integration work

Siebly has designed the Bitget toolkit around a consistent development structure used across the exchanges it supports. According to both companies, this format can make it easier for software teams to move projects between trading venues without rebuilding every part of the integration.

“Developers building automated trading systems need SDKs that are consistent, secure, and tested in production environments,” Siebly.io lead developer Tiago Siebler said. “By collaborating with Bitget, we are making it easier for developers to integrate with one of the industry’s leading trading ecosystems.”

Automated trading systems depend on APIs to retrieve prices, place orders and monitor account activity without constant manual input. Bitget and Siebly positioned the pre-built libraries as a way to simplify those connections while retaining access to public feeds and private trading functions.

The V3 integration also supports Bitget’s Unified Exchange, or UEX, strategy, which places several asset classes and trading products within the same platform. Bitget CEO Gracy Chen linked the SDK partnership to the exchange’s effort to serve both traders and the developers creating tools for them.

“UEX is about delivering a better trading experience for users and developers worldwide independent of the assets they trade,” Chen said. “Collaborating with Siebly makes it easier to build reliable tools across Bitget’s unified account architecture, helping traders spend less time on integration and more time building strategies on Bitget.”

Bitget is connecting crypto and stock products

Earlier in July, Bitget launched a Cross-Asset Unified Account that places cryptocurrencies and tokenized U.S. equities inside one margin system, as previously reported by crypto.news. Bitget said the structure supports more than 370 eligible assets, including 100 tokenized U.S. equities called rTokens.

Under the account model, customers can hold eligible stock tokens and use them as margin for futures or margin trades, according to Bitget’s announcement. The exchange also allows supported rTokens to be pledged as collateral for stablecoin loans, enabling users to access funds without first selling those positions.

The Siebly integration gives developers another route into the account architecture behind those services. While Bitget has not disclosed a launch target for applications built with the new SDKs, the supported functions cover several products already available through the exchange.

Bitget has also introduced Stock+, a product within its Stocks 2.0 offering that lets eligible customers purchase real U.S. shares with cryptocurrency. According to the exchange, deposited digital assets are converted into Circle’s USDC stablecoin before the share purchase is processed.

Unlike synthetic stock products or derivatives, Stock+ gives customers ownership of the underlying shares through regulated brokers, Bitget said. Eligible holders can receive cash dividends and adjustments from stock splits, while orders follow U.S. pre-market, regular-session and after-hours schedules.

The exchange had tested the combined-product model through a global trading competition announced in June. Crypto.news reported that Bitget’s two-month UEX Futures League offered 240,000 USDT in prizes and allowed participants to trade crypto futures and traditional-market contracts for difference from one account.

Bitget divided the contest into two monthly rounds, each carrying 120,000 USDT. The crypto futures stage ran from June 1 through June 30, while the CFD round was scheduled from July 1 to July 31, with team rankings determined by return on investment.

According to the exchange, the eight highest-ranked teams from each stage would advance to the invitation-only UEX Global Alpha Tournament. Bitget planned to bring 16 teams to an undisclosed location, where the three leading traders from each group would take part in live sessions.

Taken together, Bitget’s announcements place the Siebly SDK rollout within an existing product expansion that spans automated crypto systems, unified collateral, tokenized equities and direct stock ownership. The immediate change for developers is access to standardized tools for connecting applications to those trading and account functions.

Morpho has officially launched its fixed-rate lending protocol Midnight on Base, adding a new credit layer to its onchain lending network as it seeks to bring fixed-rate, fixed-term borrowing closer to traditional financial markets.

The Block reported that Midnight is now live after Morpho first introduced the protocol through its white paper in May, expanding the project’s lending stack beyond Morpho Blue, its variable-rate lending protocol. The rollout begins on Base, with Morpho planning to extend support to additional blockchain networks over time, although the company has not provided a timeline.

Unlike most decentralized lending protocols that rely on floating interest rates, Midnight allows borrowers and lenders to negotiate loan terms directly, including interest rates, maturity dates, and counterparties. Morpho co-founder and CEO Paul Frambot said the protocol was built to mirror the structure of traditional credit markets, where fixed-rate borrowing remains the standard.

“Fixed-rate lending is fundamental to how global credit markets operate,” Frambot said. “Without it, onchain markets remain incomplete.”

According to Morpho, Midnight complements rather than replaces Morpho Blue. While Blue continues to provide variable-rate lending through isolated lending markets, Midnight introduces fixed-rate, fixed-term credit using an intent-based peer-to-peer matching system that separates pricing and risk management from onchain execution.

Midnight introduces a different lending model

Morpho said lenders and borrowers can negotiate their own loan conditions instead of relying on pricing formulas embedded within a protocol. The company said the design is intended to support institutional and retail participants while enabling financing backed by tokenized real-world assets, structured credit products and repo-style transactions.

Responding to questions about competing protocols including Pendle Finance, Term Finance and Notional Finance, Frambot told The Block that earlier fixed-rate products were largely built on top of variable-rate lending systems.

“In past attempts, fixed rates were built on top of variable rates, which was imperfect,” Frambot said. “The right approach is to build fixed rates at the primitive level, and layer variable-rate products on top.”

Morpho had already outlined this approach when it published the Midnight white paper in May. At the time, the project described Midnight as an intent-based primitive for peer-to-peer lending that introduces customizable loan terms while remaining noncustodial and open source. Unlike Morpho Blue’s pool-based architecture, Midnight matches lending intents directly between participants and externalizes both pricing and risk management.

The protocol’s documentation also described fixed-term loan positions as transferable assets, allowing secondary markets to form around existing credit positions instead of keeping loans locked until maturity. Morpho argued that this structure could make onchain credit markets behave more like conventional bond and term loan markets.

Existing network provides early liquidity

Morpho believes Midnight’s architecture addresses one of the main problems faced by previous fixed-rate lending protocols.

In an earlier blog post, the project said previous designs required lenders to commit capital before borrowers arrived, leaving liquidity fragmented across different maturities. According to Morpho, Midnight instead uses an offer-based system where lenders continue earning variable yields through Morpho Blue until their fixed-rate offers are accepted.

Once an offer is matched, liquidity is sourced only for that transaction, while positions sharing the same maturity remain fungible. Morpho said this allows users to enter or exit positions before maturity without dividing liquidity across separate markets.

Frambot also identified the protocol’s offer-book architecture as another distinguishing feature. Because Midnight launches within Morpho’s existing lending ecosystem, he said the protocol can immediately connect with more than 30 independent curators already managing billions of dollars through Morpho Blue. He added that multi-market offers, programmable compliance tools and callback functionality allow capital to remain productive in variable-rate markets until a fixed-rate match occurs.

Institutional lending remains a key focus

Midnight arrives as Morpho continues expanding its institutional lending business.

In June, Morpho Association raised $175 million in one of decentralized finance’s largest funding rounds, with Paradigm, a16z Crypto and Ribbit Capital leading the investment alongside Apollo Funds, Circle Ventures, VanEck, Ledger Cathay and several other investors. Fortune reported at the time that the transaction valued Morpho at approximately $2 billion, although the company did not disclose a valuation in its official announcement.

Morpho said the funding would support technical development, commercial integrations and wider adoption of its open credit infrastructure. Frambot said at the time that the project was building an open credit network capable of connecting capital providers with borrowers without relying on fragmented lending systems.

The company also said its lending network now holds more than $11 billion in deposits. According to Morpho, companies including Coinbase, Kraken, Bitwise Asset Management and Société Générale’s regulated digital asset subsidiary, SG Forge, already use its infrastructure to build onchain credit products. Earlier company announcements also listed Binance, Anchorage Digital and Galaxy Digital among organizations integrating Morpho’s lending software.

Coinbase’s onchain lending product already operates on Morpho Blue. Asked whether the exchange intends to integrate Midnight into that service, a Coinbase spokesperson told The Block that the company has nothing to announce at this stage.

Although Coinbase did not comment further, Frambot said multiple platforms, institutions and partners have expressed interest in using Midnight.

Yesterday, crypto exchange OKX appointed to its board Andrew Cuomo — the New York governor whose administration created the BitLicense that OKX never received.

Maybe that’s what it takes to finally get that state license.

Cuomo and his administration created the BitLicense back in 2014, and OKX, the world’s fourth largest crypto exchange, has been chasing one ever since.

However, despite having well over a decade to apply, OKX still doesn’t appear on the New York Department of Financial Services (NYDFS) register. Somewhat embarrassingly, competitors, including Coinbase, Gemini, Mastercard, MoonPay, and other crypto companies, do.

With yesterday’s news, however, the path for OKX to win its approval might finally have opened up.

Tough to get, even for the world’s fourth largest crypto exchange

The license is famously difficult to obtain.

Kraken, facing the same daunting application in 2015, called the BitLicense “a creature so foul, so cruel that not even Kraken possesses the courage or strength to face its nasty, big, pointy teeth” and left the state. 

Fortune, for context, reported that the BitLicense’s first three years of availability produced just four licensees.

OKX founder Star Xu boasted that Cuomo’s new board seat will help him build “the world’s most trustworthy large digital asset exchange.” This is something that could take some work.

Indeed, between 2018 and early 2024, US customers conducted more than $1 trillion worth of transactions through OKX, even though OKX’s official policy at that time prohibited US persons from transacting on the exchange.

In fact, one OKX employee advised an American in 2023: “I know you’re in the US, but you could just put a random country and it should go through.”

For its part, OKX blamed the episode on “legacy compliance gaps.”

Russia’s State Duma passed legislation establishing the country’s first comprehensive framework for regulating cryptocurrencies with most of the new rules set to take effect on Sept. 1.

The law creates a legal framework for crypto exchanges, depositories and other digital asset providers, while setting rules for who can buy crypto and under what conditions, Russia’s state-owned news agency TASS reported Tuesday.

Only organizations included in a special registry will be permitted to operate as cryptocurrency exchanges, although firms will be allowed to continue operating without registration until July 1, 2027.

Under the new law, banks will be required to refuse transfers if they suspect an unauthorized entity is operating a cryptocurrency exchange.

The legislation also guarantees judicial protection for holders of digital currencies regardless of whether the assets were previously declared.

Retail investors will be allowed to buy the most liquid cryptocurrencies through licensed intermediaries, subject to an annual limit equivalent to roughly $3,800 per intermediary. Qualified investors will be able to purchase any crypto without restrictions.

Onchain lending just gained a new option on Base: Morpho has launched Morpho Midnight, a fixed-rate, fixed-term lending market that sits alongside its existing variable-rate venue, Morpho Blue. The move introduces an intent-driven model where loans are structured around competing offers—rather than being priced by a protocol-defined utilization curve.

According to an announcement shared with Cointelegraph, Midnight is live on the Base mainnet and begins by supporting cbBTC and USDC across multiple maturity dates. Morpho says the rollout is intentionally contained to support a progressive deployment focused on security.

Key takeaways

• Morpho Midnight brings fixed-rate, fixed-term borrowing to Base, complementing Morpho’s variable-rate Blue pools.
• Loan pricing is offer-driven: lenders and borrowers propose interest rates, maturities, and other terms instead of relying on algorithmic pool utilization curves.
• Midnight is positioned to better match needs found in traditional credit markets, where funding costs and repayment schedules are known in advance.
• The initial deployment supports cbBTC and USDC with multiple maturity dates, and Morpho says additional integrations and features may come as the rollout expands.

Fixed terms arrive on Base, but with a different pricing engine

DeFi lending has historically struggled to replicate the predictability offered by conventional finance. In many onchain markets, borrowing costs rise or fall with changing utilization—meaning lenders and borrowers face pricing that can shift over time.

Morpho’s Midnight is designed to address that gap by shifting from pool-based algorithmic pricing to a marketplace of offers. As Morpho explained to Cointelegraph, the system lets participants propose interest rates, maturities, and other loan parameters. Instead of relying on a continuously running utilization curve, Midnight issues loans as fixed obligations matched through competition among offers.

For institutions and businesses, this matters because fixed repayment schedules can make it easier to manage funding costs, expected returns, and risk exposure. While the DeFi sector can approximate fixed income through complex strategies, a dedicated fixed-rate lending venue can reduce reliance on workarounds.

Morpho also emphasized that Midnight is not intended as a replacement for Morpho Blue. Blue remains focused on open-ended, variable-rate lending pools, while Midnight is structured to externalize loan risk, interest rates, and duration to market participants—turning those elements into negotiated terms.

How Morpho framed the “Midnight” design before launch

Morpho first discussed the fixed-rate approach as part of a broader “Morpho V2” roadmap. In a 2025 post referenced by Morpho’s development timeline, the protocol described an intent-based, peer-to-peer marketplace where users could submit custom offers. In that framing, capital could continue earning variable yield until it becomes matched to a fixed-rate offer—before locking into the fixed obligation.

In April, Morpho named the fixed-rate system Midnight and clarified again that it would complement, not replace, Morpho Blue. Later, Morpho released Midnight’s whitepaper and codebase in May. In connection with that release, Morpho said the “offered capital” model was meant to avoid a recurring problem in fixed-rate DeFi: liquidity lockups and fragmentation across maturity dates.

That design goal is important because fixed-rate markets can face an inherent mismatch—capital providers may not always want to commit for the exact maturities demanded by borrowers. By centering loan terms around offers, Midnight aims to make maturity selection more market-responsive while still offering borrowers defined terms.

Rollout status: live on Base with cbBTC and USDC

According to the Morpho spokesperson who spoke to Cointelegraph, Midnight is already live on the Base mainnet. The first version supports cbBTC and USDC, and it offers loans across multiple maturity dates.

Morpho said it kept the launch deliberately contained as part of a progressive rollout strategy, prioritizing security. The spokesperson also told Cointelegraph that crypto-native lenders, borrowers, and curators active on Morpho Blue have shown interest in moving into Midnight’s fixed-term environment.

Beyond existing Morpho participants, Morpho indicated that several enterprises and institutions are building products on the protocol in beta. Morpho did not provide details of those initiatives at this stage, saying announcements are expected as those products go live.

Where this fits in Morpho’s broader growth and DeFi lending trends

Midnight’s launch arrives after a period of rapid expansion for Morpho. Earlier in June, Morpho announced a $175 million funding round led by Paradigm, with participation from a16z crypto (Andreessen Horowitz) and Ribbit Capital. At the time, Morpho said it planned to expand integrations with banks, asset managers, and large platforms, while adding features associated with traditional credit markets—an aim that aligns with Midnight’s fixed-rate proposition.

Morpho’s infrastructure is already used by major crypto platforms for variable-rate lending. In April, Cointelegraph reported that Coinbase launched Morpho-powered USDC loans for United Kingdom users. Those loans reportedly allowed borrowers to take positions against Bitcoin (BTC), Ether (ETH), and cbETH on Base, using variable rates and with no fixed repayment schedule—an example of the open-ended borrowing model that Midnight is designed to complement.

In other words, Midnight extends Morpho’s toolkit toward a segment of lending that may feel more familiar to legacy finance workflows, where counterparties often value certainty in pricing and maturity. Still, the practical impact for users will depend on liquidity at specific rates and maturities, as well as how quickly lenders and borrowers coordinate around those offer terms.

Readers should watch how Midnight’s liquidity develops across maturity dates and whether more assets beyond cbBTC and USDC are added as the rollout expands. The key uncertainty is whether fixed-term demand can consistently find matching offers at attractive terms—because the economics of fixed-rate lending live and die by market participation.

A decentralized exchange (DEX) backed by Robinhood is expanding into tokenized stocks and derivatives as platforms compete to build onchain markets for traditional assets.

Arcus, a DEX built by the team behind decentralized trading platform dYdX and backed by Robinhood Crypto, launched tokenized stocks and perpetual futures on Robinhood Chain on Tuesday, according to an announcement shared with Cointelegraph.

The company previously launched spot markets when Robinhood Chain went live on July 1. Arcus offers more than 95 stock tokens, perpetual markets and crypto assets through a self-custodial trading account, with Paxos-issued stablecoin USDG serving as its primary collateral and settlement asset.

The launch comes as crypto companies and financial platforms increasingly compete to build infrastructure for tokenized real-world assets (RWAs), while regulatory questions around access and product structure remain a key challenge for the sector.

Related: Bernstein raises Robinhood price target, cites tokenization and prediction markets

Self-custody shapes approach to onchain trading

Arcus’s launch includes tokenized versions of stock in major US companies such as Nvidia, Tesla, Apple, Microsoft, Meta, Google and Amazon, as well as perpetual markets tied to equities, exchange-traded funds, commodities, indexes and crypto assets.

The platform uses a self-custodial model, allowing users to retain control of their assets rather than deposit them with a centralized exchange. Arcus uses Privy, a wallet infrastructure company that helps applications create and manage crypto wallets, allowing users to sign up through email or social logins.

Source: Robinhood Chain

Users who already hold crypto can connect existing self-custodial wallets, including MetaMask, Ledger and WalletConnect, with the company citing support for additional Ethereum-compatible wallets.

Tokenized stocks face regulatory questions

Arcus said its stock tokens are unavailable in the US, Canada, the UK and other restricted jurisdictions, highlighting the different regulatory approaches to tokenized securities across markets.

Cointelegraph contacted Arcus for clarification on the restrictions but did not receive a response by publication time.

Regulators in markets including the US and UK have been examining how blockchain-based representations of traditional assets fit within existing financial frameworks, with questions around custody, ownership and market structure being addressed.

The launch adds another player to the growing race to build infrastructure for tokenized assets, with platforms including Coinbase-backed Base exploring ways to bring traditional financial products onchain.

Magazine: Is Robinhood Chain’s success bullish or bearish for ETH the asset?