Multicoin Capital leads Trasia Labs' $1.75 million seed round, to expand into Hyperliquid's Asian perpetual trading market

Multicoin Capital, as the sole institutional investor, has injected $1.75 million into Trasia Labs’ seed round, marking its official entry into the Hyperliquid ecosystem. Trasia is a perpetual contract trading platform built natively on Hyperliquid, primarily targeting the Asian market. Co-founded by Mable Jiang—former partner at Multicoin Capital and ex-chief revenue officer of the Stepn team—and Web3 practitioner Edison Chen, Trasia officially launched its first web version on July 17, supporting both Chinese and English. A mobile app is scheduled for release in August, and the platform has already launched an invitation-only Asia Points loyalty program. Currently, Trasia integrates with Hyperliquid’s native perpetual market via a non-custodial model; it plans to roll out its own perpetual contracts based on the HIP-3 protocol, focusing on asset categories of high interest to Asian investors, including AI infrastructure and pre-IPO assets. Officials stated that over $35 million in HYPE and USDC has been allocated to support the Asian stock perpetual market and related ecosystem growth.