Multicoin Capital has put $1.75 million into Trasia, a non-custodial trading platform built on Hyperliquid’s infrastructure and aimed squarely at Asian traders. It marks the venture firm’s first direct investment in the Hyperliquid ecosystem, a notable signal given Multicoin’s already-public enthusiasm for the HYPE token itself.
The seed round positions Trasia as an early mover in a gap that’s been hiding in plain sight: localized, user-friendly decentralized trading for a region that accounts for a massive share of global crypto volume but remains underserved by Western-built protocols.
What Trasia is actually building
Trasia is positioning itself as a perpetual futures and equity trading platform that runs directly on Hyperliquid’s on-chain infrastructure. The key selling point is non-custodial architecture, meaning users retain control of their funds rather than trusting a centralized exchange with their assets.
The platform’s web version is already live and supports both Chinese and English languages. A native mobile app is expected to roll out in August 2026, which will be critical for adoption in Asian markets where mobile-first trading dominates user behavior.
