Bitget Debuts First TradFi Quanto Perpetual Futures for Non-US Stocks

Bitget, a cryptocurrency exchange, has launched what it claims is the first TradFi Quanto Perpetual Futures contract. This new product allows traders to invest in select non-U.S. stocks using USDT as collateral.

The first contract, MINIMAXHKDUSDT, is tied up with the Hong Kong-listed artificial intelligence firm MiniMax and offers a leverage of up to 20x.

Bitget's CEO Gracy Chen said that Quanto contracts are not new in crypto derivatives but no major exchange has applied this structure to traditional financial assets until now. She added, 'From Pre-IPO access to US stock options, we are building a trading environment where crypto infrastructure serves global financial markets.'

The launch coincides with an increase in perpetual trading volume, with Bitget clocking $70 billion in perpetual trading volume and ranking second in the segment with 11.01% market share among crypto exchanges.