Based, a Web3 consumer application focused on trading and everyday crypto spending, has secured 11.5 million dollars in a Series A funding round led by Pantera Capital. The round also included participation from Coinbase Ventures, Wintermute Ventures and Karatage, signaling continued venture interest in consumer oriented onchain financial platforms despite recent market volatility.
The company stated that the newly raised capital will be directed toward expanding into additional geographic markets and strengthening its onchain financial infrastructure. The goal is to scale product capabilities while improving user access to global digital asset markets.
Launched roughly eight months ago, Based integrates perpetual futures trading, prediction markets and real world crypto spending into a unified interface. The platform is built natively on Hyperliquid’s execution environment, a high performance trading infrastructure designed to deliver fast settlement and deep liquidity. By combining derivatives trading tools with consumer payment functionality, Based aims to bridge speculative activity and practical crypto usage within a single ecosystem.
According to the company, its approach focuses on simplifying access to advanced financial tools. Rather than targeting only professional traders or developers, the platform is positioned toward everyday users seeking exposure to global markets alongside the ability to spend digital assets directly. The integration of perpetuals and prediction markets within one interface reflects a broader trend in crypto toward multi functional financial super apps.
In addition to its main application, Based is extending its technology stack to support third party venues built on the same infrastructure. One such integration includes HyENA, a Hyperliquid native perpetuals trading venue. This strategy positions the company not only as a consumer facing brand but also as a contributor to the broader Hyperliquid ecosystem.
Venture capital activity in the digital asset sector has shown signs of selective recovery in early 2026, with funding increasingly directed toward infrastructure and user experience improvements rather than purely speculative token launches. Institutional investors appear to be backing projects that combine scalable technology with real world usability, particularly those leveraging high speed decentralized execution environments.
The involvement of established crypto investment firms highlights continued confidence in platforms that blend trading functionality with practical payment capabilities. As competition intensifies among onchain trading applications, product differentiation through integrated services and simplified onboarding has become a central focus.
With fresh capital in place, Based plans to accelerate development of its financial stack, expand liquidity integrations and refine compliance frameworks across new jurisdictions. The funding round underscores ongoing efforts within the Web3 sector to build comprehensive digital financial ecosystems capable of supporting both active traders and mainstream users.
