Crypto perps, native-USDT spot, and tokenized equities (SPYx, NVDAx, TSLAx) on a single order book. Off-chain matching with self-custodial settlement via Utexo. No bridges. No gas.
All margin and settlement state anchors to multiple chains via Utexo's RGB + Lightning rails. No alt-L1, no wrapped assets, no bridge risk.
Tether-issued USDT moves directly on Utexo. The same dollar that settles institutional flow now collateralizes your perps.
Trade SPYx, NVDAx, TSLAx and more — leveraged perpetuals on real-world equities, sourced via xStocks and Backed.
Sub-50ms matching engine modeled on traditional HFT venues. Only deposits, withdrawals, and state commitments touch L1.
UltraLiquid decouples matching from settlement. A high-frequency in-memory engine handles the order book in microseconds. Utexo's RGB + Lightning rails handle deposit, custody, periodic state commitments, and final withdrawal back to your chain of choice.
Margin lives in a state channel between your wallet and the exchange. Trades update the channel state off-chain; PnL is realized only when you close. Risk evaluates your portfolio continuously and triggers liquidation when maintenance margin is breached.
Read the architecture doc →Open an account in seconds. No KYC for crypto deposits. Trade 12 markets at launch.