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Multicoin Capital invests $1.75 million in Trasia on Hyperliquid
The seed-round deal makes Multicoin Trasia’s sole investor as the Asia-focused perpetual futures platform prepares to launch.
Multicoin Capital has made its first investment in the Hyperliquid ecosystem by putting $1.75 million into Trasia, an Asia-focused perpetual futures trading platform built on Hyperliquid, according to The Block.
The investment makes Multicoin the startup’s sole investor in its seed round, with Trasia co-founder Mable Jiang telling The Block that the company intentionally raised only a small amount of outside capital to launch products first and show traction before seeking more funding.
Jiang said Trasia began fundraising in May and closed the round last month, and she declined to disclose the round structure, valuation, or whether Multicoin received a board or observer seat.
The Block also noted the investment follows Multicoin’s disclosed late last month investment in the Hyperliquid token itself, after the firm started building a large HYPE position earlier this year.