Hata, Malaysia’s only dual-licensed digital asset exchange, has closed an $8m (~RM31.6m) Series A funding round led by Bybit, the world’s second-largest digital asset exchange by trading volume, with additional participation from several prominent global family offices.
The round deepens an existing relationship between the two firms, with Bybit having previously participated in Hata’s $4.2m seed round. The latest raise extends that relationship into a wider strategic collaboration, with both companies committing to expanding Malaysia’s digital asset ecosystem. A number of global family offices focused on Southeast Asian technology and financial markets also contributed to the round.
Hata intends to deploy the capital across three areas: boosting liquidity on its platform, driving user growth through marketing and ecosystem initiatives, and co-developing digital asset products tailored to Malaysian users alongside Bybit.
Founded by Malaysians and operating under licences from the Securities Commission Malaysia and the Labuan Financial Services Authority, Hata provides a regulated platform for investors to buy, sell and custody digital assets.
Since launching in May 2023, the exchange has grown to more than 209,000 registered users and processed RM1.04bn in transaction volume during 2025. Its assets under custody have accumulated to RM86.3m since launch, reaching a peak of RM115m in September 2025 before broader market corrections took hold.
In 2025, Hata expanded its product offering with the launch of a staking feature, initially supporting Solana (SOL), alongside its existing Auto-Invest (DCA) tool.
Bybit co-founder and CEO Ben Zhou said, “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 tokenised real world asset ecosystem.”
Hata CEO David Low said, “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.”
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