According to CoinMeta, the US stock perpetual contract trading platform MochaTrade, which is supported by Y Combinator, has raised a total of $5.56 million in financing. The seed round was led by CoinFund, with Coinbase Ventures and others also participating. The $690,000 pre-seed round was supported by Y Combinator and Pioneer Fund. The platform is aimed at Indian traders and allows them to top up their accounts in rupees through UPI to take leveraged long or short positions on US stock prices such as NVIDIA, Tesla, Apple, etc., without the need to hold actual stocks or open a US securities account. Currently, the platform is in the testing phase, with a waiting list of over 20,000 people, and it is expected to go live in the coming weeks. The funds raised will be used for transaction technology development and user growth. In the future, the platform plans to launch US stock options, more trading assets, and social trading features, but there are no plans to issue its own cryptocurrency for now.