This week, Bitget rolled out the industry's first TradFi Quanto Perpetual Futures, a derivative that lets users trade non-USD-denominated stocks using USDT without any currency conversion. The first contract, MINIMAXHKDUSDT, tracks Hong Kong-listed AI company MiniMax and offers up to 20x leverage, available exclusively on Bitget.
How the Quanto structure works
Under the hood, the contract prices the underlying stock in its local currency — HKD or, eventually, JPY — but settles margin, funding fees, and realized P&L entirely in USDT. The system treats the local price as numerically equivalent to USDT at a 1:1 ratio. That means no forex conversion at any point. A trader opening 10 MINIMAXHKDUSDT contracts at 30 and closing at 50 earns 200 USDT, plain and simple.
CEO Gracy Chen noted that Quanto contracts aren't new in crypto derivatives, but no major exchange had applied the structure to traditional financial assets before. Bitget is the first to bridge that gap.
According to TokenInsight's Q2 2026 report, TradFi perpetuals were the fastest-growing segment in crypto exchanges. Monthly volume jumped from $52 billion in January to $268 billion in June. Bitget generated roughly $69 billion in TradFi perpetual volume during the second quarter, capturing 11.01% market share and ranking second among all exchanges. That growth is what makes this move more than a niche product — it's a bet on the category's momentum.
Bitget's broader derivatives push
Bitget has been layering traditional finance onto its platform for a while. The exchange already offers tokenized stock perpetual contracts, CFD trading, an IPO Prime Pre-IPO service, and US stock options. Today it serves over 125 million users, giving them access to more than 2 million crypto tokens, 500-plus tokenized stocks, ETFs, commodities, forex, and precious metals. The Quanto perpetuals slot into that suite as a way to trade local-currency stocks without the headache of managing multiple currency accounts.
What comes next? Chen hasn't said which contracts will follow, but the mechanism is built to scale to JPY and other local-currency equity markets. The question now is whether other exchanges will race to replicate the structure — or let Bitget keep the edge.
