- Bitget launches the first TradFi Quanto Perpetual Futures settled entirely in USDT.
- MINIMAXHKDUSDT lets traders access Hong Kong-listed MiniMax with up to 20x leverage.
- New product removes FX conversion while expanding TradFi perpetual trading access.
Bitget has launched the industry’s first TradFi Quanto Perpetual Futures, introducing a new derivatives product that allows traders to gain exposure to non-U.S. dollar-denominated stocks using USDT without converting into local fiat currencies.
The first contract, MINIMAXHKDUSDT, tracks Hong Kong-listed AI company MiniMax and is now live on the exchange, offering up to 20x leverage and 24/7 trading.
First TradFi Quanto Perpetual Goes Live
According to Bitget, the new product prices the underlying stock in its local currency, such as Hong Kong dollars (HKD) for Hong Kong-listed equities, but settles margin, funding fees, and realized profit and loss entirely in USDT.
Under the structure, the exchange treats the local currency price as numerically equivalent to USDT on a 1:1 basis, allowing traders to mirror the stock’s price movements without any fiat currency conversion.
The launch marks the first application of a crypto-style quanto derivatives model to traditional financial assets on a major exchange.
Bitget Says Product Eliminates Currency Conversion
Bitget CEO Gracy Chen said while quanto contracts have existed in crypto derivatives, applying the structure to traditional financial assets is a first for the industry.
She said the product removes the need for traders to convert USDT into local currencies before accessing international equities, enabling users to trade Hong Kong and other non-USD stocks directly from their USDT balances.
As an example, Bitget said a trader opening 10 MINIMAXHKDUSDT contracts at 30 and closing them at 50 would realize a profit of 200 USDT, calculated directly from the price difference without any foreign exchange conversion.
TradFi Perpetual Market Sees Rapid Growth
The launch comes as demand for TradFi-linked perpetual products continues to accelerate across crypto exchanges.
According to TokenInsight’s Q2 2026 Crypto Exchange Report, monthly TradFi perpetual trading volume increased from approximately $52 billion in January to $268 billion in June, representing more than a fivefold increase during the first half of the year. The report also found that equity perpetuals overtook commodities as the fastest-growing category.
Bitget generated approximately $69 billion in TradFi perpetual trading volume during the second quarter, giving it an 11.01% market share and making it the second-largest platform in the segment, according to the report.
Related: Bitget Hits $70B in TradFi Perpetual Volume in Q2, TokenInsight Says
Part of Broader TradFi Expansion
The Quanto Perpetual launch builds on Bitget’s broader push into traditional financial products. Over the past year, the exchange has rolled out tokenized stock perpetuals, stablecoin-settled CFDs covering equities, commodities, and forex, the IPO Prime pre-IPO trading service developed with Republic, and U.S. stock options trading.
The MINIMAXHKDUSDT contract is now available on Bitget with up to 20x leverage, continuous 24/7 trading, and funding settlements every eight hours.
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