Bybit leads $8 million Hata round as Malaysia expands digital asset rules
Bybit has led an $8 million Series A funding round in Hata, a Malaysia-based digital asset exchange that operates with two licenses.
- Bybit led Hata’s $8 million round to expand liquidity, users, and local digital asset products.
- Hata operates under two Malaysian licenses for digital asset trading and custody services nationwide today.
- Malaysia is expanding tokenization, stablecoin pilots, and cross-border settlement through regulatory sandbox programs.
According to a Monday announcement, the round also drew backing from several global family offices and extended Bybit’s earlier support after its participation in Hata’s $4.2 million seed round.
The deal marks more than a capital raise. Hata and Bybit said the funding opens a broader strategic partnership focused on growing Malaysia’s digital asset market through a regulated platform. Hata said it remains the country’s only dual-licensed digital asset exchange, operating under the Securities Commission Malaysia and the Labuan Financial Services Authority.
Funds target liquidity, growth and product expansion
Hata said it will use the new capital in three main areas. The company plans to improve platform liquidity, expand its user base through marketing and ecosystem efforts, and build new digital asset products with Bybit for users in Malaysia. Bybit CEO Ben Zhou said Malaysia remains an important market for the exchange.
”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,” he said.
He added that the partnership with Hata aims to support local investors through a compliant platform.
Moreover, Hata has linked its growth strategy to licensing, compliance and investor protection. CEO David Low said the partnership reflects support for that model as the local market develops.
”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,” he said.
Since launching in 2023, Hata said it has registered more than 209,000 users and processed 1.04 billion Malaysian ringgits, or about $225 million, in transaction volume in 2025. The company offers digital asset trading and custody services under Malaysia’s regulated framework.
Malaysia advances tokenization and stablecoin testing
The funding comes as Malaysia expands its digital asset and tokenization efforts. In June, the country launched its Digital Asset Innovation Hub as a regulatory sandbox for use cases such as programmable payments, ringgit-backed stablecoins and supply chain financing under central bank oversight.
Bank Negara Malaysia later set out a three-year roadmap to study tokenized deposits, stablecoins and cross-border settlement. The central bank also said it is testing three sandbox programs tied to ringgit-backed stablecoins and tokenized bank deposits with participants including Standard Chartered, CIMB Group and Maybank.
Against that backdrop, Bybit’s investment in Hata adds fresh backing to a regulated platform in a market that is building new digital asset infrastructure.
