Hata, Malaysia’s exclusive dual-licensed digital asset exchange, has successfully raised $8 million (approximately RM31.6 million) in its Series A funding round led by Bybit, which ranks as the second-largest digital asset exchange globally by trading volume. The funding round also saw participation from various prominent international family offices.
This latest funding strengthens the existing collaboration between Hata and Bybit, following Bybit’s involvement in Hata’s prior $4.2 million seed round. The additional capital not only solidifies their partnership but also triggers a broader strategic initiative to enhance the digital asset landscape in Malaysia.
Hata plans to allocate the newly acquired funds to three key areas: increasing liquidity on its platform, encouraging user growth through marketing and ecosystem initiatives, and co-developing digital asset products tailored for Malaysian users, in collaboration with Bybit.
Operating under licenses from the Securities Commission Malaysia and the Labuan Financial Services Authority, Hata provides a regulated environment for investors to trade and manage digital assets. Since its launch in May 2023, the exchange has amassed over 209,000 registered users and facilitated transaction volumes of RM1.04 billion throughout 2025.
Hata’s assets under custody have reached RM86.3 million since its inception, with a peak of RM115 million noted in September 2025 before experiencing broader market corrections. In 2025, the exchange expanded its offerings by introducing a staking feature, initially available for Solana (SOL), alongside its existing Auto-Invest tool.
Bybit’s co-founder and CEO, Ben Zhou, emphasized Malaysia’s strategic importance, citing its highly digitally engaged population and the considerable long-term potential for digital asset adoption. He expressed confidence that Hata is well-positioned to support Malaysian investors through a compliant and regulated platform.
According to Zhou, the collaboration between Hata’s local expertise and Bybit’s global prowess in technology and product development aims to significantly accelerate the growth of Malaysia’s digital asset ecosystem and tokenized real-world assets.
Hata CEO David Low remarked that this partnership with Bybit represents a significant milestone both for Hata and the broader Malaysian digital asset sector. He noted that Bybit’s leadership in this funding round validates Hata’s commitment to building a crypto platform grounded in proper licensing, compliance, and investor protection.
Low added that the collaboration will harness Hata’s regulated platform along with Bybit’s technological and innovative strengths to broaden opportunities for Malaysian users.