MINIMAXHKDUSDT tracks MiniMax in HKD
Bitget launched what it described as the industry’s first TradFi quanto perpetual futures for non-USD-denominated stocks on 21st July 2026. The first contract, MINIMAXHKDUSDT, tracks Hong Kong-listed AI company MiniMax and is live with up to 20x leverage.
The product lets traders buy and sell a stock priced in a local currency while posting margin and settling profit and loss in USDT. For MINIMAXHKDUSDT, the underlying share price stays in Hong Kong dollars, or HKD, on Bitget.
According to the launch details, margin, funding fees and realised profit and loss all settle in USDT. Bitget treats the local-currency price as numerically equal to USDT at 1:1, so the contract moves in line with the underlying stock without any fiat conversion.
Gracy Chen, Bitget chief executive, said: “Quanto contracts are not new in crypto derivatives, but no major exchange has applied the structure to traditional financial assets until now.”
The exchange framed the use case around Hong Kong stocks priced in HKD and Japanese stocks priced in JPY. A trader holding USDT no longer needs to swap into HKD or JPY before opening a position.
Bitget gave a worked example using 10 MINIMAXHKDUSDT contracts. If a trader goes long at 30 and closes at 50, the profit is 200 USDT, calculated as 20 multiplied by 10.
Because the trade opens and closes in USDT, no foreign-exchange conversion happens at entry, exit or settlement. That removes exchange-rate exposure tied to converting USDT into HKD before trading.
TokenInsight Q2 2026 report
TokenInsight’s Crypto Exchange Report Q2 2026 found that TradFi perpetuals were the fastest-growing crypto exchange segment in the quarter. Monthly volume rose from about $52 billion in January 2026 to $268 billion in June 2026.
As a result, the market expanded fivefold in the first half of 2026. Equity perpetuals also overtook commodities as the main growth driver, according to TokenInsight.
Bitget generated about $69 billion in TradFi perpetual volume during Q2 2026. That gave the exchange an 11.01% market share and ranked it second among exchanges in the report.
The quanto launch follows earlier Bitget products tied to traditional markets. Over the past year, the company introduced tokenized stock perpetual contracts with USDT settlement and leverage of up to 100x.
Later in 2025, Bitget added CFD trading for global equities, commodities and forex through stablecoin settlement. In April 2026, the exchange launched another TradFi product line as it widened that business.
Chen said the contracts remove a barrier for global traders because they cut out currency conversion. She also said anyone holding USDT can trade Hong Kong and other non-USD stocks as easily as Bitcoin.
