Trasia Labs has raised a $1.75 million seed round from Multicoin Capital, which was identified as the sole institutional investor in the financing. The deal marks Multicoin Capital’s formal entry into the Hyperliquid ecosystem through a platform built natively on the network. Trasia is focused on perpetual futures trading for the Asian market and was co-founded by former Multicoin Capital partner and former Stepn chief revenue officer Mable Jiang, together with Web3 builder Edison Chen. The company launched its first web product on July 17 with both Chinese and English language support. A mobile app is expected in August, and the team has already rolled out an invite-only Asia Points program. At present, the platform connects to Hyperliquid’s native perpetual market through a non-custodial model. It later plans to launch its own perpetual contracts under the HIP-3 framework, with a focus on asset categories that have drawn strong interest from Asian investors, including AI infrastructure and Pre-IPO products. Trasia said it has already deployed more than $35 million in HYPE and USDC to support the growth of Asian equity perpetuals and the related ecosystem.
Multicoin Capital has invested $1.75 million in seed funding into Trasia Labs as the sole institutional backer, according to BlockBeats on July 20. The investment marks the firm’s formal entry into the Hyperliquid ecosystem.
Trasia is a perpetual futures trading platform built natively on Hyperliquid and aimed primarily at the Asian market. The company was co-founded by Mable Jiang, a former partner at Multicoin Capital and former chief revenue officer at Stepn, and Web3 operator Edison Chen.
The platform launched its first web version on July 17 with support for both Chinese and English. A mobile app is expected to launch in August. Trasia has also started an invite-only Asia Points rewards program.
At this stage, Trasia accesses Hyperliquid’s native perpetual market through a non-custodial model. The team said it later plans to introduce its own perpetual contracts based on the HIP-3 protocol, focusing on asset categories that are drawing heavier interest from Asian investors, including AI infrastructure and Pre-IPO offerings.
Trasia said it has already committed more than $35 million in HYPE and USDC to support the growth of the Asian equity perpetuals market and the broader related ecosystem.
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