UMX has opened an invitation-only public beta that combines cryptocurrency trading with access to U.S.-listed stocks, ETFs and stock options under a single account structure, placing cross-market collateral and fund transfers at the center of its offering.
The platform, which says it was incubated by Avenir Group under Li, began accepting early-access applications on Aug. 10. Its model allows users to move funds between a crypto trading account and a securities account without maintaining separate pools of capital at different providers.
Stablecoins transferred into the securities account are automatically converted to U.S. dollars, according to UMX’s product materials, allowing users to fund stock, ETF and options positions directly from crypto balances. Transfers back to the crypto side are also supported through the same account system.
UMX’s approach is designed to reduce the capital fragmentation faced by traders who hold digital assets but also trade U.S. securities. Rather than selling crypto, withdrawing funds and waiting for a brokerage transfer to settle, users would be able to route balances internally between the two account types. The practical appeal depends on the platform’s execution, conversion terms, margin rules and the treatment of collateral during volatile markets.
Actual shares and options alongside crypto markets
UMX says users who buy U.S. stocks through its securities account receive actual holdings rather than synthetic price exposure, and that the purchases carry full shareholder rights. The company has not positioned the service as a tokenized-stock product for ordinary securities purchases; tokenization enters the system when users choose to convert stock holdings into crypto trading collateral.
Once funds reach the securities account, users can trade U.S. stocks, ETFs and U.S. stock options. The platform also says certain stocks and ETFs are available through fractional-share orders, starting at $1.
Its published VIP0 fee schedule lists commissions of $0.0099 per share for U.S. stock and ETF trades, subject to a $0.99 minimum per order. U.S. stock options are priced at $0.95 per contract, with a $1.99 minimum order commission and no maximum fee cap.
On the crypto side, UMX lists spot trading fees of 0.1% for both maker and taker orders at the VIP0 level. For crypto derivatives, the platform lists a 0.02% maker fee and a 0.05% taker fee. UMX says fees decline as users increase their on-platform assets and 30-day trading volume.
The pricing gives the platform a brokerage-style commission model for securities while retaining the maker-taker structure common in crypto derivatives markets. That combination could appeal to active users seeking to manage stock and crypto positions in one interface, though total trading costs would also depend on spreads, financing costs and any fees associated with conversion or borrowing.
Crypto collateral can fund securities trades
One of UMX’s more consequential features is its “loan-and-transfer” function. Users can pledge crypto assets including Bitcoin and Ether as collateral, borrow stablecoins, then move the borrowed stablecoins into the securities account. There, the stablecoins are converted to U.S. dollars for stock, ETF or options trading.
The structure would allow a trader with BTC or ETH holdings to seek securities exposure without first selling those assets. It also adds leverage to a portfolio that can already face sharp price movements in both cryptocurrencies and equities.
Borrowing against crypto introduces collateral-management requirements that are more demanding than a simple cash transfer. If the value of pledged crypto falls, a user may need to add collateral, reduce borrowing or face liquidation under the platform’s margin rules. The same issue can become more complicated when borrowed funds have been used to acquire options or other leveraged instruments.
UMX also offers the reverse collateral pathway through a “stock-to-coin” feature. Under that design, U.S. stock holdings can be converted into stock tokens backed by the underlying shares. The platform applies a preset haircut — a reduction in the collateral value assigned to an asset — to calculate how much margin the converted position can provide for crypto trading.
A stock valued at $10,000, for example, would not necessarily produce $10,000 of usable crypto margin. The usable amount would depend on UMX’s designated haircut for that security. The stock-token conversion can be reversed, enabling users to switch the tokenized position back into U.S. shares.
That mechanism gives users a way to retain stock exposure while seeking margin for crypto derivatives or leveraged trades. It also means the platform’s haircut schedule and liquidation parameters will shape the actual risk of the combined-account model. A conservative haircut reduces the amount of leverage available; a more generous one increases buying power while leaving less room for a decline in the underlying stock’s value.
Cash products are also positioned as margin resources
UMX’s product description includes fixed-term wealth management and cash-management products. The platform says funds deposited in those products can continue to be used as trading margin.
Allowing yield-oriented balances to remain available as collateral can make an account appear more capital-efficient, but it also concentrates several functions in the same pool of assets: savings, trading collateral, borrowing capacity and exposure to securities or crypto markets. Users considering the products would need to distinguish between headline yield and the conditions under which balances remain available for withdrawal or become subject to margin requirements.
UMX says public-beta users can earn annualized returns of up to 5.5% on stablecoin balances and up to 2.5% on Bitcoin balances. The platform’s stated rates are product terms rather than guaranteed market-wide returns, and users would need to review the applicable conditions for eligibility, duration and use of funds as margin.
Avenir’s Bitcoin ETF exposure provides context
Avenir Group already has a sizable connection to Bitcoin-linked financial products. Its Form 13F filing with the U.S. Securities and Exchange Commission for the quarter ended March 31 reported ownership of more than 18.28 million shares of the iShares Bitcoin Trust, BlackRock’s spot Bitcoin ETF. The holding was valued at roughly $702 million in the filing.
That disclosed ETF position gives context to UMX’s attempt to connect crypto balances with conventional U.S. securities trading. The platform is entering a market where users increasingly expect access to multiple asset classes, but its proposition goes further by allowing collateral to move across those categories.
The invitation-only beta will test whether traders want that flexibility enough to accept the added operational complexity of shared margin. UMX’s conversion rules, collateral haircuts, loan terms and forced-liquidation procedures will determine whether the single-account design functions primarily as a convenience tool or becomes a more aggressive leverage channel for users trading across crypto and U.S. markets.
Explore how tokenized equities and cross-market trading work in practice—start with this detailed guide for multi-asset traders.
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