COMPANY PROFILE

Based

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Self-custodial trading app built on Hyperliquid

SingaporeFounded 2022Fintech

Valuation $25–50M Last recorded · 2026

Headcount <100 Current team size

Total funding $10–50M Disclosed equity funding

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About Based

Based is a crypto trading and spending app built on Hyperliquid that gives users a self-custody wallet to trade, spend and invest. It describes itself as an all-in-one trading app where people can trade US stocks, Asian stocks, commodities and crypto perpetuals from a single self-custodial wallet, around the clock and permissionlessly, with no bank account or broker required. Users hold their own private keys, which is the main difference from centralised exchanges and brokerages.

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Trading covers stock perpetuals such as US and Asian equities alongside BTC, ETH, SOL and HYPE, available 24 hours a day including weekends. Based Cash is a Visa debit product that lets users load crypto and spend it at merchants worldwide, positioned as borderless spending outside the limits of the traditional banking system. The platform also offers an AI assistant and a memory feature, and the company reports processing tens of billions of dollars in trading volume and a user base above 100,000.

The product is available as a web terminal, desktop app, Android app and iOS app, with a legacy web app still available. The site publishes documentation, a litepaper, a brand kit, fees, a blog and an affiliate programme, and notes backing from a crypto venture investor. A Chinese-language version is offered alongside English.

Based earns from trading fees and from card and affiliate programmes, serving retail and active crypto traders who want one interface for onchain trading and payments while keeping custody of their funds. It operates in the onchain perpetuals trading and self-custodial wallet market alongside other Hyperliquid front ends and centralised exchanges.

Source: Dealroom company data

At a glance

Status: Operational
Founded: 2022
Headquarters: Singapore
Employees: 8
Open positions: None listed
Dealroom signal: 77.9/100
Industry: Fintech
Sector: Fintech, Digital Wallet, Defi, Crypto and Web3
Business model: SaaS
Client focus: b2c
Links: Website LinkedIn

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Funding history

2 recorded events

Company financing events and reported valuations.

Deal type	Date	Amount	Valuation	Investors	Source
SERIES A✓Equity / VC	Feb 2026	$12M	$46M	Wintermute · Pantera Capital · Coinbase Ventures · Karatage	↗
SEED✓Equity / VC	Sep 2025	—	—	Ethena	↗

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Growth signals

Based website traffic

Latest recorded traffic for Based is 41K monthly website visits, down 59% over the last three months. Based's team grew 33.3% over the past year.

Latest monthly visits41K 3-month web change-59% 1-year team growth+33.3%

Monthly website visitsSep 2025–Jul 2026

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