Bitget has launched perpetual futures that let traders take positions on Hong Kong-listed stocks using Tether (USDT), skipping currency conversion entirely.
Bitget Quanto Futures Launch
The first contract, MINIMAXHKDUSDT, tracks Hong Kong-listed artificial intelligence company MiniMax. It went live Tuesday with leverage of up to 20 times.
The contract prices the stock in Hong Kong dollars, then settles margin, funding fees and realized profit or loss in USDT. Bitget treats the local-currency price as equal to USDT at a one-to-one rate, so the contract moves with the underlying stock. A trader who opens 10 contracts at 30 and closes them at 50 collects 200 USDT.
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TradFi Perpetuals Volume Surge
Gracy Chen, chief executive of Bitget, said quanto contracts already exist in crypto derivatives, but no major exchange had applied the structure to traditional financial assets. She said traders holding USDT can now buy Hong Kong and other non-dollar stocks as easily as they buy Bitcoin (BTC). TokenInsight reported that monthly TradFi perpetual volume across exchanges grew from roughly $52 billion in January to $268 billion in June.
The launch caps a run of similar moves. Bitget added tokenized stock perpetuals, then CFD trading in late 2025, and opened a pre-IPO service in April 2026. This month it began offering options on U.S.-listed equities.
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