Multicoin Capital Invests $1.75 Million in Trasia, First Hyperliquid Ecosystem Deal
Multicoin Capital has made its first investment in the Hyperliquid ecosystem. The firm invested $1.75 million in Trasia Labs, an Asia-focused perpetual futures trading platform built on Hyperliquid. Multicoin was the sole investor in Trasia’s seed round.
Strategic Investment in Hyperliquid Ecosystem
This investment follows Multicoin Capital’s recent large position in the Hyperliquid (HYPE) token. The firm has been accumulating HYPE since early 2026 and views it as one of its biggest holdings.
Trasia was co-founded by Mable Jiang, a former Multicoin Capital partner. She previously served as Chief Revenue Officer at Find Satoshi Lab (the team behind Stepn). Jiang co-founded Trasia in May 2025 with Edison Chen, a web3 builder since 2017.
Trasia’s Focus on Asian Traders
Trasia aims to serve Asian traders with a user-friendly perpetual futures platform. Key highlights include:
- Web interface available in Chinese and English
- Native mobile app launching in August 2026
- Asia Points — an invite-only rewards program for early users
- Plans to launch HIP-3 Asian equity perpetuals, starting with AI infrastructure companies
The platform will initially offer Hyperliquid’s native markets before introducing its own contracts later this year.
Strong Team and Growth Strategy
Trasia currently has a 10-person team based in Hong Kong, Taiwan, and Tokyo. The company deliberately raised a small amount of capital to focus on product launch and user traction first.
Mable Jiang emphasized that Trasia’s main advantage is reaching new users who are not yet trading on Hyperliquid or competing platforms like Trade.xyz. The team plans to attract them through mobile-first design, regional networks, and localized marketing.
Multicoin’s Confidence
Tushar Jain, Managing Partner and CIO at Multicoin Capital, expressed strong support:
“We are long the Hyperliquid ecosystem, and we expect Trasia to gain meaningful market share quickly and become a dominant force in the years to come.”
