Based, a Web3 consumer app for trading and spending cryptocurrencies, raised $11.5 million in a Series A round led by Pantera, with participation from Coinbase Ventures, Wintermute Ventures and Karatage.
The company said the new capital would be used to expand into new markets and expand its on-chain financial infrastructure.
Launched eight months ago, Based combines perpetual trading, prediction markets, and real-world crypto spending in a single interface. Built natively on Hyperliquid’s execution environment, the platform seeks to combine institutional-grade speed and liquidity with a consumer-centric experience.
Beyond its application, Based also extends its technology stack to power third-party sites such as HyENA, a native Hyperliquide perpetual platform.
“Most crypto products today are designed for traders or builders, not everyday people who want a complete on-chain financial life,” said the co-founder and CEO who goes by the name Edison, in a press release shared with CoinDesk. “We’re building Based so that anyone, anywhere can access global markets and also use those funds to buy things they actually need without going through hurdles.”
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