Multicoin Capital has made its first Hyperliquid ecosystem investment in Trasia, an Asia-focused trading platform built on Hyperliquid. The platform was co-founded by former Multicoin Capital partner Mable Jiang and aims to serve Asian traders with perpetual futures and spot trading.
The investment signals growing venture capital interest in the Hyperliquid ecosystem, which has emerged as one of the most active venues for perpetual futures trading in cryptocurrency. Hyperliquid has attracted significant trading volume and liquidity, making it an attractive platform for building specialized trading applications.
Trasia is designed specifically for Asian traders, with features tailored to the needs of users in the region including local language support, region-specific trading pairs, and interfaces optimized for mobile-first users. The platform leverages Hyperliquid order book and settlement infrastructure while adding its own user experience layer.
The investment from Multicoin, one of the most prominent crypto venture capital firms, validates Hyperliquid potential as a platform for building financial applications. The ecosystems HIP-3 program, which allows third-party developers to deploy custom perpetual futures markets, has been a key driver of ecosystem growth.
Builder-deployed markets on Hyperliquid have been gaining traction, with HIP-3 markets for stocks, commodities, and indices first topping native crypto volume on July 8. The expansion beyond cryptocurrency trading into traditional asset classes positions Hyperliquid as a potential competitor to both crypto-native exchanges and traditional derivatives platforms.
This article was adapted from The Block. Read the original here.
