Gate launches USD order book to build a more efficient dollar-asset trading liquidity system
- Key Takeaway: Gate exchange has officially launched the USD order book feature, integrating USD, USDC, USD1, RLUSD and other USD-pegged quote assets into a unified spot trading market, pooling liquidity through a shared order book to enhance market depth and execution efficiency.
- Key Elements:
- Users need to upgrade the Gate App to v8.35 or above, or access via the Web, to use the USD order book feature.
- Taking the BTC/USD market as an example, users can place orders in currencies such as USD, USDC, USD1, or RLUSD, with orders uniformly matched in the same order book, and prices and depth displayed in USD.
- Orders in different trading currencies can be automatically converted and settled within the same market without manual conversion by users; account balances and transaction records are displayed in the selected currency, and trading pair names are uniformly designated as XXX/USD.
- Supported currencies may vary by region, account, or trading pair, and additional stablecoins pegged 1:1 to USD may be added in the future; this feature currently supports spot trading only and does not support leveraged trading.
- Compared with the independent quote market model, the USD order book brings multiple USD-class assets into the same market, allowing users to view combined order depth and market data while enabling the platform to optimize liquidity allocation.
Gate Officially Launches USD Order Book, integrating USD-quoted assets such as USD, USDC, USD1, and RLUSD into a unified USD spot trading market. By sharing the same order book depth, liquidity across different USD-quoted assets is consolidated, helping to enhance market depth and liquidity while further optimizing execution efficiency. Users can experience the USD order book feature by upgrading the Gate App to v8.35 or above, or by accessing it via the Web interface.
Taking the BTC/USD market as an example, users can choose to place orders using supported trading currencies such as USD, USDC, USD1, or RLUSD based on their asset holdings. Orders placed in different trading currencies will be matched uniformly within the BTC/USD order book, with prices and order depth displayed in USD. Even if buyers and sellers select different trading currencies, orders can still be matched within the same market. The relevant asset conversion and clearing/settlement are handled automatically by the system, eliminating the need for manual conversion by users.
In actual trading, users simply select the desired trading currency in the order panel and submit the order. The system will deduct funds according to the currency chosen by the user, and the relevant amounts in account balances, orders, and trade records will also be displayed in the corresponding currency. Trading pair names and price units will be uniformly displayed as XXX/USD. The currently supported trading currencies may vary by region, account, or trading pair, and additional stablecoins pegged 1:1 to USD may be added in the future. It should be noted that this feature currently supports spot trading only and does not support isolated or cross margin trading for spot positions. Users who wish to engage in margin trading can do so in the corresponding margin trading markets.
Compared to the model where different stablecoins have their own separate quoted markets, the USD order book brings multiple USD-class assets into a single market, allowing users to view consolidated order depth and market data without having to choose between multiple similar quote markets. For trading platforms, this model also helps optimize liquidity allocation, providing a more unified market foundation for trading between different USD-class assets.
As the application of stablecoins in digital asset trading and settlement deepens, market synergy among USD stablecoins has become an important direction for trading platforms to enhance their USD asset services. By integrating multiple USD-quoted assets into a unified market for matching, Gate is optimizing liquidity allocation and trading mechanisms to improve the efficiency of USD asset trading, while also providing new infrastructure support for the accelerated expansion of the USD ecosystem.
The launch of the USD order book represents another product upgrade in Gate's ongoing efforts to improve its USD ecosystem and multi-asset trading infrastructure, further connecting USD asset management with digital asset trading scenarios to complete the service chain from asset management to trading. Looking ahead, Gate will continue to build out its USD ecosystem and multi-asset trading infrastructure, expand more USD asset trading and usage scenarios, and enhance the multi-asset trading experience through product innovation, delivering a more efficient and convenient one-stop multi-asset trading experience for global users.
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About Gate
Founded in 2013 with Dr. Han as Founder and CEO, Gate is one of the world's leading cryptocurrency and comprehensive financial services platforms. With over 60 million users, Gate supports trading of 5,000+ crypto assets and 12,800+ stock assets, with full coverage of TradFi assets including metals, stocks, indices, forex, and commodities, providing users with a one-stop, multi-asset allocation trading experience. As an industry benchmark, Gate was the first to achieve 100% Proof of Reserves, encompassing diversified products and ecosystem initiatives such as Gate Wallet, Gate Ventures, and Gate for AI Agent.
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