Bybit Anchors $8 Million Funding Round for Malaysia's Hata Exchange

Bybit has spearheaded an $8 million Series A funding round for Hata, a digital asset exchange holding dual licenses from the Securities Commission Malaysia and the Labuan Financial Services Authority. This investment follows a previous $4.2 million seed round led by Bybit, signaling a deepening commitment to the Southeast Asian market. The newly acquired capital is earmarked for improving liquidity, expanding the platform's user base, and developing additional digital asset products. Hata has demonstrated significant growth since its 2023 launch, reporting over 209,000 registered users and processing 1.04 billion Malaysian ringgits—approximately $225 million—in transaction volume during 2025. This corporate expansion aligns with Malaysia's strategic efforts to modernize its financial infrastructure. The country recently established the Digital Asset Innovation Hub, a regulatory sandbox that allows fintech firms to test programmable payments and ringgit-backed stablecoins. A notable example includes the launch of the RMJD stablecoin on the Zetrix blockchain. Furthermore, Bank Negara Malaysia has outlined a three-year roadmap to explore asset tokenization. Current pilots focusing on tokenized bank deposits and cross-border settlements involve major financial institutions, including Maybank, CIMB Group, and Standard Chartered, positioning Malaysia as an emerging hub for regulated digital finance.