Hata, a Malaysia-based digital asset exchange, announced the completion of an $8 million Series A financing round led by Bybit, marking a significant step in scaling the country’s regulated crypto ecosystem. The round also included participation from several global family offices focused on Southeast Asia’s technology and financial markets.
The investment builds on Bybit’s earlier involvement in Hata’s $4.2 million seed round and formalizes a deeper strategic collaboration between the two companies. Beyond capital, the partnership combines Hata’s regulatory standing in Malaysia with Bybit’s global technology, liquidity, and product expertise.
Hata plans to deploy the new funding across three primary areas: enhancing platform liquidity, accelerating user acquisition through marketing and ecosystem initiatives, and co-developing new digital asset products tailored specifically for Malaysian users in collaboration with Bybit.
Founded in Malaysia, Hata operates as the country’s only dual-licensed digital asset exchange, regulated by both the Securities Commission Malaysia and the Labuan Financial Services Authority. Since launching in May 2023, the platform has grown rapidly, reaching over 209,000 registered users by the end of 2025. During that year alone, Hata processed RM1.04 billion in transaction volume and accumulated RM86.3 million in assets under custody, with a peak of RM115 million in September 2025.
The company has also expanded its product offerings, including staking services beginning with Solana and an auto-invest feature designed to support long-term digital asset accumulation.
KEY QUOTES:
“Malaysia is a strategically important market for Bybit, with one of the most digitally engaged populations in Southeast Asia and strong long term potential for digital asset adoption. We see Hata as the right partner to help serve Malaysian investors through a compliant and regulated platform. By combining Hata’s local market leadership with Bybit’s global strengths in technology and product innovation, we hope to accelerate the growth of Malaysia’s digital asset and tokenized real-world asset ecosystem.”
Ben Zhou, Co-founder and CEO, Bybit
“This partnership with Bybit marks a defining moment for Hata and for Malaysia’s digital asset industry. Bybit’s decision to lead this round and partner with us strategically is a strong validation of our belief that crypto should be built the right way, with proper licensing, rigorous compliance, and an unwavering commitment to investor protection. Together, we will combine Hata’s regulated local platform with Bybit’s global expertise in technology and product innovation to expand what is possible for Malaysian users.”
David Low, CEO, Hata
