Bitget has introduced the first quanto perpetual futures contracts tied to stocks listed outside the US dollar market, starting with Hong Kong-based MiniMax. The MINIMAXHKDUSDT futures went live on July 21, offering continuous trading and use up to 20 times.
Quanto Futures Mechanism
Quanto derivatives allow exposure to assets priced in one currency while settling in another. For MINIMAXHKDUSDT, the underlying MiniMax shares trade in Hong Kong dollars but all margin, funding, and profit or loss calculations are performed in USDT. This method enables traders to avoid converting stablecoins into local currency before trading.
Bitget equates the local currency price numerically to the contract’s USDT value, tracking the stock price without additional foreign exchange transactions. A trader opening 10 contracts at 30 and closing at 50 would realize a 200 USDT profit before fees, computed as (50 − 30) × 10.
Users do not purchase MiniMax shares directly but gain synthetic exposure through the perpetual futures contract. Gracy Chen, Bitget’s CEO, noted this as a first for a major exchange applying quanto structures to traditional finance assets.
Advantages of Quanto Futures
Typically, buying foreign stocks requires converting funds into the local currency and incurring related fees and exchange-rate risks. Bitget’s quanto futures remove this step by accepting USDT collateral while reflecting the asset’s local price movements.
The product aims to simplify access to international equities for stablecoin holders. Plans may include extending this approach to other markets such as Japanese stocks denominated in yen. However, derivative and use risks remain present despite the absence of direct currency exchange.
- 24/7 trading availability
- use up to 20x on MINIMAXHKDUSDT futures
- Settlement and margin in USDT without currency conversion
This information is provided for informational purposes and is not financial advice.
