In Australia, Beaufort Fiduciaries Pty Ltd (ACN 162 139 871, AFSL No. 545124) provides wholesale clients with access to derivatives where the underlying assets are digital assets. Derivatives are complex, regulated financial products that are difficult to understand and may not be suitable for inexperienced investors. For eligibility, terms and conditions click here. Krak Pay is offered by Bit Trade Australia Pty Ltd (ACN 163 237 634), Authorised Representative of Flexewallet Pty Ltd (AFSL 448066). This information is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider whether it is appropriate for you and read the relevant disclosure documents before making any decision.

Derivatives Collateral Currencies

Last updated: 21 October 2026

Multi-M Linear Derivatives

The Multi-M wallet allows traders the flexibility to deposit a variety of collateral currencies to back their positions. Neither base nor the quote currency is needed as collateral to trade and all collaterals are valued in USD for margining under a single wallet with cross or isolated margin.

Haircuts and conversion fees apply to non-USD collateral currencies.

The following collateral currencies are supported:

Fiat

AssetSymbolHaircut
Australian DollarAUD0.00%
British PoundGBP0.00%
Canadian DollarCAD0.00%
EuroEUR0.00%
US DollarUSD0.00%

Stablecoins

AssetSymbolHaircut
DaiDAI10.00%
EURCEURC1.00%
Global DollarUSDG1.00%
Tether GoldXAUT10.00%
USD TetherUSDT0.50%
USDCUSDC0.50%

Crypto

AssetSymbolHaircut
AaveAAVE20.00%
AlgorandALGO10.00%
ArbitrumARB10.00%
AvalancheAVAX10.00%
BitcoinBTC1.00%
BittensorTAO20.00%
CardanoADA7.50%
CelestiaTIA50.00%
ChainlinkLINK10.00%
CosmosATOM10.00%
Curve DAO Token
CRV10.00%
DecentralandMANA40.00%
DogecoinDOGE7.50%
dogwifhatWIF40.00%
EthenaENA10.00%
EthereumETH1.00%
FartcoinFARTCOIN50.00%
Fetch.aiFET10.00%
FilecoinFIL20.00%
HyperliquidHYPE20.00%
InjectiveINJ20.00%
KaspaKAS40.00%
KusamaKSM40.00%
LitecoinLTC7.50%
MinaMINA50.00%
NEAR ProtocolNEAR20.00%
OndoONDO10.00%
PAX GoldPAXG7.00%
PepePEPE20.00%
PolkadotDOT7.50%
RenderRENDER20.00%
RippleXRP5.00%
SeiSEI50.00%
Shiba InuSHIB20.00%
SolanaSOL7.50%
SPX6900SPX50.00%
StacksSTX20.00%
StellarXLM10.00%
SuiSUI20.00%
TezosXTZ40.00%
The GraphGRT40.00%
THORChainRUNE40.00%
TRONTRX10.00%
UniswapUNI10.00%

Tokenized Equities

AssetSymbolHaircut
Collateral Limit (USD)
Alphabet Inc. Class A
GOOGLx20.00%$250,000
Apple Inc.AAPLx20.00%$250,000
Circle Internet Group, Inc.
CRCLx30.00%$100,000
Invesco QQQ Trust
QQQx10.00%$1,000,000
NVIDIA Corporation
NVDAx20.00%$250,000
Robinhood Markets, Inc.
HOODx30.00%$250,000
SPDR Gold Shares
GLDx20.00%$100,000
SPDR S&P 500 ETF Trust
SPYx10.00%$1,000,000
Strategy Incorporated
MSTRx30.00%$250,000
Tesla, Inc.TSLAx20.00%$250,000

Interest and auto-conversions can apply to unrealized losses uncovered by USD, depending on the value of the loss. See Fees for Multi-M Derivatives for more information.

What is a haircut? When does it apply?

Interest and auto-conversions can apply to unrealized losses uncovered by USD, depending on the value of the loss. See Fees for Multi-M Derivatives for more information.

What are Collateral Limits?

Collateral limits cap the amount of a given asset that counts toward your margin equity. Any balance above the limit is excluded from collateral value and from liquidation. For example, if an asset has a $100,000 collateral limit and a 5% haircut, a $150,000 balance yields $95,000 in collateral value, and the excess $50,000 is ignored in a liquidation event.

Coin-M Inverse Derivatives

Coin-M Inverse contracts only allow the base currency of the pair to be used as collateral.

Each collateral currency has a separate wallet and each wallet's collateral supports trading of both perpetual and fixed maturity contracts.

e.g. if trading a BTC/USD contract, the only collateral allowed would be BTC.

Wallet

Collateral

Index

Haircut

FI_BTCUSD

BTC

BRTI

N/A

FI_ETHUSD

ETH

ETHUSD_RTI

N/A

FI_LTCUSD

LTC

LTCUSD_RTI

N/A

FI_XRPUSD

XRP

XRPUSD_RTI

N/A

FI_BCHUSD

BCH

BCHUSD_RTI

N/A