Based, a Web3 consumer app for trading and spending cryptocurrencies, has 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 fresh capital will be used to expand into new markets and build its on-chain financial infrastructure.
Launched eight months ago, Based combines perpetual trading, prediction markets, and real-world cryptocurrency spending into a single interface. Built natively on the Hyperliquid execution environment, the platform seeks to combine institutional-grade speed and liquidity with a consumer-centric experience.
Beyond its app, Based is also expanding its technology stack to power third-party venues like HyENA, a perpetual platform native to Hyperliquid.
“Most crypto products today are designed for traders or builders, not for everyday people who want a complete on-chain financial life,” said co-founder and CEO, known as 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 really need without jumping through hoops.”
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