Hashed-backed ‘Based’ raises KRW 15.3bn in Series A…accelerating expansion of on-chain financial infrastructure

Surpasses 100,000 sign-ups in eight months

Closes $11.5m Series A

Upgrades all-in-one super app integrating trading and payments

Based, a Web3 consumer super app backed by Hashed, has raised $11.5 million in a Series A round.

Based said on the 24th that it has closed the $11.5 million (about KRW 15.3bn) Series A led by Pantera. Coinbase Ventures, Wintermute and Ventures Caratage also participated in the round. With the fresh capital, Based plans to expand globally and further upgrade its on-chain financial infrastructure.

Based positions itself as a Web3 consumer super app built around the concept of “trade anything, pay anywhere.” It is designed to let users manage digital-asset investing and everyday payments within a single application. Previously, investment apps, payment cards and portfolio-viewing services were fragmented, forcing users to move across multiple platforms; Based has integrated these functions into a unified interface.

Based has surpassed 100,000 sign-ups within eight months of launch, with monthly active users reaching 30,000. It currently operates in five regions, and its cumulative trading volume stands at roughly $40 billion.

Based is built on Hyperliquid’s high-performance execution environment. Leveraging fast order execution and deep liquidity, it delivers speed and efficiency closer to professional trading infrastructure through a consumer-facing interface.

Based is also expanding by offering its core technology to external partners. A key example is “HyENA,” a Hyperliquid-based perpetual futures trading service. According to Onchaindata, HyENA processed more than $1.5 billion in trading volume within months of launch.

Edison Lim, co-founder and CEO of Based, said, “Many digital-asset products are designed for traders or builders, making it difficult for everyday users to lead a full financial life on-chain,” adding, “Based is designed so anyone can access global markets and connect that to real-world spending. Our goal is to enable both investing and consumption in a single app.”

Jay Yu, junior partner at Pantera, said, “If Hyperliquid is building the house for finance, Based is closer to the front door,” adding, “Based has the potential to grow into a leading platform that lets users trade anything and pay anywhere, beyond the Hyperliquid ecosystem.”