Binance Adds Tencent, Xiaomi Stock Perpetuals

Binance Futures listed perpetual contracts tied to Tencent and Xiaomi stock prices on Thursday, the exchange said. The contracts settle in USDT and offer up to 10x leverage.

This is Binance's first move into equity-linked derivatives for Hong Kong-listed names. Until now, the exchange's stock perps covered only Coinbase and a few U.S. tech names.

Tencent's OTC-traded shares carry an Alpha Score of 52, in mixed territory, according to AlphaScala data. The new contracts let crypto traders take leveraged long or short positions on the company without holding the underlying stock or converting to fiat.

The risk profile mirrors crypto perpetuals. If open interest skews one way, funding rates can swing sharply. Liquidation is a real threat at 10x leverage, particularly during Hong Kong trading hours when policy news can move stocks quickly.

No regulator has approved the contracts. Binance continues to face scrutiny from global watchdogs, and listing equity derivatives on Asian stocks may raise securities-classification questions. The contracts are live; traders can size positions against Tencent's next earnings or Xiaomi's product cycle without waiting for T+2 settlement.