Reality, a tokenization platform that brings publicly listed equities onchain and operates within the Bitget ecosystem, has partnered with Merkl to support dividend distributions to eligible rToken holders whose assets are deployed across supported decentralized finance (DeFi) protocols.

The integration is designed to ensure that users can continue receiving eligible dividends in stablecoins even when their tokenized assets are placed into lending markets, liquidity pools, or staking contracts rather than held directly in personal wallets.

Solving the DeFi Ownership Puzzle

rTokens from Reality provide tokenized exposure to publicly listed stocks and exchange-traded funds (ETFs), along with eligible economic benefits such as dividends. When these tokens are deployed in DeFi protocols, however, the underlying smart contracts may appear as the onchain holders instead of individual investors, creating an ownership identification challenge when calculating and distributing dividend payments. The gap matters for a payout system keyed to onchain holders: unless the beneficial owner behind a position can be identified, standard distribution logic has no clear recipient for the dividend.

Merkl addresses the problem through its reward forwarder technology, which traces token positions across supported smart contracts to identify the underlying beneficial owners. The infrastructure can account for multiple layers of DeFi contracts and protocol-specific fees, helping ensure that distributions reach eligible users according to the applicable rules. Users and developers can verify contract compatibility through the Merkl Studio Forwarder Scan.

"The challenge with assets held in DeFi is knowing who sits behind each position," said Pablo Veyrat, CEO and Co-founder of Merkl. "Our forwarder technology traces ownership through nested smart contracts and tells Reality exactly who holds what, so dividends can reach the right people wherever their tokens are deployed."

Extending Tokenized Equities Beyond Trading

The partnership aims to make tokenized equities more functional within decentralized financial markets, allowing investors to pursue DeFi opportunities without necessarily giving up eligible dividend distributions.

"Tokenized equities should be useful beyond trading," said Gracy Chen, CEO of Bitget. "If someone puts their rTokens to work in DeFi, they should still be able to receive the dividends they're eligible for. Working with Merkl helps us address that challenge and makes tokenized equities more practical for everyday use."

Under the arrangement, Reality will continue managing rToken issuance and dividend entitlements, while Merkl provides the infrastructure for identifying eligible holders across supported DeFi positions. Reality's rToken model distributes eligible cash dividends separately from token price movements, with net cash dividends generally settled in USDT. DeFi-based distributions remain subject to supported smart contracts and applicable distribution rules.

rToken Adoption Grows in Bitget's UEX Ecosystem

The integration builds on rising adoption of rTokens within Bitget's Universal Exchange (UEX) ecosystem. According to data referenced in a DeFiLlama report, rToken trading volume reached $1.16 billion in cumulative volume between June and July 2026, while the number of users trading both cryptocurrencies and rTokens increased 23.54% month over month in July 2026. The figures point to growing interest in tokenized equities as part of broader cross-asset investment strategies.

For users deploying rTokens, the practical checkpoint is contract compatibility: dividends can follow tokens only through the lending markets, liquidity pools, and staking contracts that the forwarder infrastructure supports, making the scope of compatible contracts a key detail to confirm before placing assets into DeFi.

By combining Reality's tokenized equity infrastructure with Merkl's ownership-tracking and reward distribution technology, the partnership seeks to extend the role of tokenized stocks and ETFs beyond exchange-based trading and into decentralized financial applications. The integration represents another step toward connecting traditional financial assets with onchain infrastructure, while addressing one of the practical challenges of bringing dividend-bearing assets into DeFi.

About Reality

Reality is a regulated real-world asset (RWA) issuance platform built for global markets and part of the Bitget ecosystem. Working with licensed brokers across major exchanges, including Nasdaq and the NYSE, Reality purchases and holds underlying assets in custody before issuing corresponding rights onchain. Its infrastructure connects traditional capital markets with blockchain technology, providing users worldwide with access to tokenized real-world assets.

About Merkl

Merkl is an onchain money streaming platform used by stablecoin issuers, fintech companies, neobanks, and tokenized funds to calculate and distribute yield, dividends, and other payouts. Its technology tracks ownership across lending markets, liquidity pools, and nested smart contracts to help ensure payments reach the beneficial owners behind each position.

Since launching in July 2023, Merkl has distributed more than $1.8 billion in tokens across over 60 blockchain networks for more than 1,000 companies, including PayPal, Coinbase, Robinhood, and Morpho.

Source: Metaverse Post