Bybit has led an $8 million Series A funding round in Hata, a regulated crypto exchange based in Malaysia.
This move is not just about funding. It’s also about building a stronger regulated crypto market in Southeast Asia.
Hata operates under two licenses in Malaysia — one from the Securities Commission Malaysia and another from the Labuan Financial Services Authority. That makes it one of the more tightly regulated digital asset platforms in the country.
The new funding round also included support from global family offices and builds on Bybit’s earlier participation in Hata’s seed round.
In simple terms, Bybit is doubling down on a partner it already trusted.
The money will be used in three main areas:
- improving liquidity on the platform
- expanding the user base through marketing
- building new crypto products together with Bybit
Ben Zhou said Malaysia is an important long-term market because of its strong digital adoption and growing interest in crypto. He also emphasized that the focus is on building within a regulated system.
Hata CEO David Low said the partnership supports a “licensed and compliant” approach to crypto, with a focus on investor protection and proper oversight.
Since launching in 2023, Hata has grown to over 200,000 users and processed more than $225 million in transaction volume in 2025. That’s still small compared to global exchanges, but it shows steady regional growth.
This investment also fits into a bigger trend happening in Malaysia.
The country is actively building out its digital asset infrastructure. It has launched a regulatory sandbox called the Digital Asset Innovation Hub, where companies can test things like:
- tokenized assets
- stablecoins tied to the Malaysian ringgit
- programmable payments
- cross-border settlement systems
At the same time, Malaysia’s central bank is running pilot programs with major banks like Standard Chartered, CIMB, and Maybank to explore tokenized deposits and stablecoins.
So this deal sits in the middle of something bigger.
Instead of unregulated crypto growth, Malaysia is trying to build a controlled, bank-linked digital asset system — and exchanges like Hata are becoming part of that framework.
For Bybit, the strategy is clear: expand into markets where regulation is becoming clearer, and grow alongside that infrastructure instead of waiting on it.
