Multicoin Capital backs Trasia Labs with $1.75 million for Hyperliquid futures platform

Trasia Labs has entered the Hyperliquid ecosystem with a bilingual web launch, plans for a mobile app in August, and more than $35 million committed to support Asia equity perpetuals.

USDC

HYPE

38d ago

Fact Check

All key claim elements are corroborated across multiple independent sources. Crowdfund Insider, the originating primary article, confirms Multicoin Capital invested $1.75M as sole backer in Trasia Labs, a Hyperliquid perpetuals platform for Asian markets, with a bilingual web launch (July 17, 2026), a mobile app due in August, and over $35M in HYPE and USDC committed to HIP-3 Asian equity perpetuals. BlockBeats, Phemex, and Pluang independently repeat the same $1.75M figure, Hyperliquid focus, Asia market orientation, August mobile app, and $35M+ commitment. There is no conflicting evidence.

Summary

Multicoin Capital invested $1.75 million in Trasia Labs as the startup’s sole institutional backer, marking its entry into the Hyperliquid ecosystem. Trasia was founded by former Multicoin Capital partner and former Stepn chief revenue officer Mable Jiang and Web3 operator Edison Chen. The company launched its first bilingual web version on July 17 and plans a mobile app in August. It also said it has committed more than $35 million in HYPE and USDC to support Asia equity perpetuals and broader ecosystem growth, with plans to launch its own perpetual contracts under HIP-3. Perpetual futures are crypto derivatives contracts with no expiry date, allowing traders to maintain leveraged positions while exchange mechanisms help keep prices near the underlying market.

Terms & Concepts

perpetual futures: Crypto derivatives contracts without an expiry date.
HIP-3: A framework under which Trasia plans to launch its own perpetual contracts on Hyperliquid.
Hyperliquid ecosystem: The network of applications, markets and participants built around the Hyperliquid trading platform.