Hata, Malaysia's only dual-licensed digital asset exchange, has closed an $8 million (approximately RM31.6 million) Series A funding round led by Bybit, the world's second-largest cryptocurrency exchange by trading volume. Several prominent global family offices also participated in the round, which marks the beginning of a deep strategic partnership beyond capital.
Bybit Deepens Commitment from Seed to Series A
Bybit previously participated in Hata's $4.2 million seed round, and the new investment signals a shared commitment to responsibly scaling Malaysia's digital asset ecosystem. Ben Zhou, Co-founder and CEO of Bybit, said: "Malaysia is a strategically important market with one of the most digitally engaged populations in Southeast Asia. Hata is the right partner to serve investors through a compliant, regulated platform."
David Low, CEO of Hata, described the partnership as a "defining moment," adding that Bybit's backing validates Hata's approach of building crypto with proper licensing, rigorous compliance, and unwavering investor protection.
Capital Deployment: Liquidity, User Growth, and Tailored Products
Hata will use the funds to strengthen platform liquidity, accelerate user acquisition through marketing and ecosystem initiatives, and jointly develop innovative digital asset products tailored for Malaysians with Bybit. Since its May 2023 launch through end‑2025, Hata has amassed over 209,000 registered users, processed RM1.04 billion in transaction volume in 2025 alone, and accumulated assets under custody of RM86.3 million (peaking at RM115 million in September 2025 before market corrections).
Dual Licenses Underpin Compliance‑First Strategy
Hata is regulated by both the Securities Commission Malaysia (SC) and the Labuan Financial Services Authority (LFSA), making it the only exchange in the country with a dual‑license framework. In 2025, it expanded its product suite with staking (starting with Solana) and an Auto‑Invest (DCA) feature, empowering users to build long‑term digital wealth. Bybit serves over 70 million users globally, offering spot, derivatives, staking, copy trading, and institutional services.