Bybit has led an $8 million Series A funding round in Malaysian digital asset exchange Hata, marking another step in the expansion of regulated cryptocurrency services in Southeast Asia. The round included participation from several global family offices and follows Bybit’s earlier $4.2 million seed investment in the platform.
The new funding will be used to improve market liquidity, expand Hata’s growing user base, and introduce additional digital asset products. Since launching operations in 2023, Hata has gained more than 209,000 registered users and processed approximately 1.04 billion Malaysian ringgits (about $225 million) in trading volume during 2025.
Hata operates under licenses issued by the Securities Commission Malaysia and the Labuan Financial Services Authority, enabling the company to provide both trading and custody services under a regulated framework.
Malaysia Expands Digital Asset Regulation and Innovation
Bybit co-founder and CEO Ben Zhou described Malaysia as a strategically important market due to its digitally engaged population and strong potential for long-term crypto adoption. The exchange currently ranks among the top five cryptocurrency exchanges globally by trading volume, reflecting its expanding international presence.
Malaysia has been actively building its digital asset regulatory framework through initiatives such as the Digital Asset Innovation Hub, launched as a regulatory sandbox to test programmable payments, ringgit-backed stablecoins, and blockchain-based supply chain solutions.
Additional developments include the launch of RMJDT, a ringgit-backed stablecoin introduced by a Malaysian telecom firm linked to Crown Prince Ismail Ibrahim, under the same sandbox environment. These combined efforts highlight Malaysia’s growing role as a regulated hub for digital asset innovation in Southeast Asia.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.