Bybit led an $8 million Series A funding round in Hata, a dual-licensed digital asset exchange in Malaysia. The round included participation from global family offices and follows Bybit’s earlier investment in Hata’s $4.2 million seed round.
According to Monday’s announcement, the funding will be used to improve liquidity, expand the user base, and develop additional digital asset products.
Hata operates under licenses from the Securities Commission Malaysia and the Labuan Financial Services Authority, allowing it to offer trading and custody services for digital assets in the Southeast Asian country.
Since its 2023 launch, the company has reported over 209,000 registered users and processed 1.04 billion Malaysian ringgits (approximately $225 million) in transaction volume in 2025.
Ben Zhou, co-founder and CEO, said Malaysia is “strategically important” and has “one of the most digitally engaged populations in Southeast Asia and strong long-term potential for digital asset adoption.”
Bybit is the world’s fifth-largest cryptocurrency exchange by trading volume, according to CoinMarket data.
Beyond Malaysia, Bybit is deepening its commitment to the Middle East. In March, Bybit appointed Derek Dai as country manager for the MENA region to oversee expansion and partnerships despite ongoing regional tensions.
Source: X.com
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