Based, a Web3 consumer application for trading and spending cryptocurrencies, has raised $11.5 million in a Series A funding round led by Pantera, with participation from Coinbase Ventures, Wintermute Ventures, and Karatage.
The company said the new funds will be used to expand into new markets and build its on-chain financial infrastructure.
Launched eight months ago, Based combines perpetual contracts trading, prediction markets, and real-world cryptocurrency spending into 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.
In addition to its applications, Based has expanded its technology stack to provide support for third-party venues such as HyENA, Hyperliquid’s native sustainability platform.
“Most crypto products today are built for traders or builders, not for regular people who want to have a full financial life on-chain,” co-founder and CEO Edison said in a press release shared with CoinDesk. “We are building Base so that anyone, anywhere can access global markets and use those funds to buy what they really need without having to jump through hoops.”
Read more: Pantera’s Dan Morehead Says Bitcoin Will ‘Significantly’ Overtake Gold in 10 Years
