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Crypto exchange Bitget has expanded its traditional finance offering with the launch of what it describes as the industry’s first quanto perpetual futures contracts tied to non-US-dollar stocks.
The first contract, MINIMAXHKDUSDT, tracks the Hong Kong-listed artificial intelligence company MiniMax. It became available on July 21 with 24/7 trading and leverage of up to 20x.
Unlike conventional stock trading, the new product allows users to gain exposure to an HKD-denominated equity while providing margin and settling profits or losses entirely in USDT. As a result, traders do not need to convert stablecoins into Hong Kong dollars before opening a position.
How Bitget’s Quanto Perpetual Futures Work
A quanto derivative tracks an asset priced in one currency while settling the contract in another.
In the case of MINIMAXHKDUSDT, the underlying MiniMax share price is quoted in Hong Kong dollars. However, margin requirements, funding payments and realized profit or loss are handled in USDT.
Bitget’s system treats the numerical value of the local-currency price as equivalent to the contract’s USDT value. This is intended to let the derivative follow movements in the underlying stock without requiring a separate foreign-exchange transaction.
For example, a trader who opens 10 contracts at a price of 30 and closes them at 50 would record a profit of 200 USDT before fees and funding costs:
(50 − 30) × 10 = 200 USDT
The trader does not directly buy MiniMax shares or convert USDT into HKD. Instead, the position provides synthetic exposure through a perpetual futures contract.
“Quanto contracts are not new in crypto derivatives, but no major exchange has applied the structure to traditional financial assets until now,” Bitget CEO Gracy Chen said.
According to Chen, the product is designed to make international stocks easier to access for users who already hold stablecoins.
Removing Currency Conversion From International Stock Exposure
Buying foreign stocks through a traditional brokerage can involve several additional steps. A trader seeking exposure to a Hong Kong-listed company may first need access to the appropriate market and then convert funds into HKD.
That process can introduce conversion fees and exchange-rate risk alongside the risk associated with the stock itself.
Bitget’s quanto structure removes the direct currency-conversion stage. Users deposit USDT as collateral, while the contract reflects movements in the locally denominated underlying asset.
The structure may eventually be applied to other markets, including Japanese stocks priced in yen. However, traders should note that avoiding direct currency conversion does not eliminate the risks associated with derivatives, leverage, liquidity or differences between a perpetual contract and the underlying share price.
TradFi Perpetual Futures Gain Market Share
Bitget is launching the product as crypto exchanges increasingly compete for demand beyond conventional digital assets.
According to figures cited by the company from TokenInsight’s Q2 2026 Crypto Exchange Report, monthly trading volume for traditional finance perpetuals increased from approximately $52 billion in January to $268 billion in June.
Equity-linked perpetual contracts reportedly became one of the main drivers of that growth, overtaking commodity-based products during the period.
Bitget recorded approximately $69 billion in TradFi perpetual volume during the second quarter, according to the company. That represented an estimated market share of 11.01% and placed the platform second among the exchanges covered by the report.
Bitget has separately reported TradFi perpetual volume of close to $70 billion for Q2 2026.
Bitget Expands Beyond Cryptocurrency Trading
Founded in 2018, Bitget is a centralized cryptocurrency exchange that has increasingly positioned itself as a “Universal Exchange,” or UEX.
The platform combines conventional crypto services—including spot trading, perpetual futures and other digital-asset products—with access to tokenized stocks, exchange-traded funds, commodities, foreign exchange markets and precious metals.
Bitget says its platform serves more than 125 million users and provides access to over two million crypto tokens and more than 500 tokenized stocks. Its broader UEX model is designed to place crypto and traditional financial products within the same account infrastructure.
The exchange has introduced several TradFi-focused services over the past year. These include tokenized stock perpetuals settled in USDT, contracts for difference covering equities, commodities and forex, and products intended to provide exposure to private or pre-IPO companies.
In April 2026, Bitget introduced IPO Prime in partnership with investment platform Republic. The service was presented as a way for eligible users to gain exposure to selected private companies before a potential public listing.
The company has also expanded into US-listed equity products and stock options as part of its strategy to connect crypto-based settlement with traditional markets.
MINIMAXHKDUSDT Offers 24/7 Trading and Up to 20x Leverage
The MINIMAXHKDUSDT quanto perpetual contract is now available through Bitget. The product supports:
- USDT margin and settlement
- Up to 20x leverage
- Trading around the clock
- Funding-rate settlements every eight hours
- Synthetic exposure to MiniMax’s HKD-denominated shares
Although the contract follows the underlying stock’s price movements, it is not equivalent to owning MiniMax shares. Holders of the derivative do not receive shareholder rights, voting rights or direct ownership in the company.
Perpetual futures also carry additional risks. Leverage can amplify both gains and losses, while funding payments, liquidation thresholds and temporary deviations from the underlying market can affect a position’s performance.
The launch nevertheless represents another step in the convergence between crypto trading infrastructure and traditional financial markets. Rather than requiring separate brokerage, foreign-exchange and crypto accounts, Bitget is seeking to bring these markets together through stablecoin-based settlement.
Users can visit Bitget to review the available markets, contract specifications and regional eligibility requirements.
This article is for informational purposes only and does not constitute financial advice. Derivatives and leveraged products involve substantial risk and may not be suitable for all traders.
