Bybit’s investment in Hata gives the world’s second-largest cryptocurrency exchange its first direct stake in a dual-licensed Malaysian digital asset platform, reinforcing a broader trend of global exchanges anchoring growth strategies in Southeast Asia through compliant, locally licensed infrastructure.
Key Facts At A Glance
- Hata closed a USD 8 million Series A round on April 20, 2026, equivalent to approximately RM 31.6 million
- The round was led by Bybit, with additional participation from global family offices focused on Southeast Asian technology and financial markets
- Bybit previously participated in Hata’s USD 4.2 million seed round; the Series A deepens that relationship into a formal strategic partnership
- Hata is Malaysia’s only dual-licensed digital asset exchange, holding licences from both the Securities Commission Malaysia and the Labuan Financial Services Authority
- Hata has registered more than 209,000 users since launching in May 2023 and processed RM 1.04 billion in transaction volume in 2025
- Assets under custody peaked at RM 115 million in September 2025 before broader market corrections reduced the figure to RM 86.3 million by end-2025
- Proceeds will be allocated across three areas: platform liquidity strengthening, user growth and marketing, and co-development of digital asset products tailored to Malaysian users
Hata, Malaysia’s only dual-licensed digital asset exchange, announced on April 20, 2026 the closing of a USD 8 million Series A financing round led by Bybit, the world’s second-largest cryptocurrency exchange by trading volume. The round also drew participation from several global family offices with a stated focus on Southeast Asian technology and financial markets. Bybit had previously taken part in Hata’s USD 4.2 million seed round; the Series A extends that relationship into a formal strategic collaboration designed to expand Malaysia’s regulated digital asset ecosystem.
Hata operates under licences granted by two distinct Malaysian regulatory bodies: the Securities Commission Malaysia, which governs onshore digital asset exchange activity under the Capital Markets and Services Act framework, and the Labuan Financial Services Authority, which oversees offshore financial operations from Malaysia’s Labuan special economic zone. This dual-licence structure is uncommon among Malaysian digital asset platforms. As of December 2025, the Securities Commission maintained a list of six registered Digital Asset Exchange operators in Malaysia, with Hata among them. The Labuan licence extends the platform’s mandate to include custody and offshore financial services, allowing Hata to serve both retail and institutional clients under distinct but complementary regulatory frameworks.
Platform Position And Operating History
Since launching in May 2023, Hata has grown to more than 209,000 registered users and processed RM 1.04 billion in transaction volume during 2025 alone. Assets under custody peaked at RM 115 million in September 2025 before declining to RM 86.3 million by year-end following broader digital asset market corrections. The platform has expanded its product suite to include staking, beginning with Solana, and an Auto-Invest dollar-cost averaging feature. Hata describes itself as Malaysia’s fastest-growing homegrown digital asset exchange by user and volume metrics within its operating period.
Strategic Rationale And Capital Deployment
Bybit co-founder and Chief Executive Officer Ben Zhou characterised Malaysia as a strategically important market with strong long-term potential for digital asset adoption, citing the country’s digitally engaged population. The partnership between Bybit and Hata is framed as combining Hata’s local regulatory positioning and market knowledge with Bybit’s global technology infrastructure and product development capabilities.
Hata plans to deploy the Series A proceeds across three defined areas. The first is strengthening liquidity on its trading platform. The second covers user growth through marketing and ecosystem initiatives. The third involves co-developing new digital asset products specifically tailored to Malaysian users in partnership with Bybit. No specific product timelines or target user growth figures were disclosed in the announcement.
Regulatory And Market Context
The Hata-Bybit transaction takes place against an active period of digital asset regulatory development in Malaysia. In June 2025, Bank Negara Malaysia launched the Digital Asset Innovation Hub, a central bank-supervised regulatory sandbox enabling fintech firms to test programmable payments, ringgit-backed stablecoins, and supply chain financing in a controlled environment. Bank Negara Malaysia subsequently published a three-year tokenisation roadmap in November 2025 covering pilots for tokenised deposits and cross-border settlement infrastructure, with Standard Chartered, CIMB Group, and Maybank among the participating institutions.
Hata’s dual-licence model positions the exchange to participate in these emerging product categories, including tokenised real-world assets, a market segment explicitly referenced in Bybit’s stated rationale for the investment. The Securities Commission Malaysia has expressed support for developing Malaysia as a digital finance hub with responsible blockchain and digital asset frameworks, a policy direction aligned with the commercial strategy Hata and Bybit have outlined.