PANews reported on November 19th that Huobi HTX launched the TSLAX/USDT perpetual contract on November 19th, with a maximum leverage of 20x. This is Huobi HTX's first cryptocurrency-equity contract. TSLAX (Tesla xStock) is a tokenized stock created by Backed Finance, a compliant real-asset tokenization company, that tracks Tesla's stock price. It aims to allow crypto users to access Tesla's stock in a regulatory-compliant manner while maintaining the advantages of blockchain technology.

In addition, Huobi HTX will launch a TSLAX contract trading party from 15:00 on November 19th to 15:00 on November 26th (UTC+8), with a total prize pool of $10,000. During the event, users who register and participate in TSLAX/USDT contract trading, with a cumulative valid trading volume of ≥10,000 USDT, can share the prize pool based on their trading volume ranking; new contract users who complete TSLAX/USDT contract trading will also receive exclusive benefits.