Hata raises $8m in Series A led by Bybit

By Aarav Garg

Hata, a Malaysia-based dual-licensed digital asset exchange, has raised $8 million in a Series A funding round led by Bybit, with participation from several global family offices.

The funding marks an expansion of the relationship between the two companies, following Bybit’s earlier investment in Hata’s $4.2 million seed round. Both firms said the partnership will extend beyond capital to include strategic collaboration aimed at supporting the growth of Malaysia’s digital asset ecosystem.

“This partnership with Bybit marks a defining moment for Hata and for Malaysia’s digital asset industry. Bybit’s decision to lead this round and partner with us strategically is a strong validation of our belief that crypto should be built the right way, with proper licensing, rigorous compliance, and an unwavering commitment to investor protection. Together, we will combine Hata’s regulated local platform with Bybit’s global expertise in technology and product innovation to expand what is possible for Malaysian users.” says David Low, CEO of Hata.

Hata plans to use the proceeds to strengthen liquidity on its platform, expand its user base through marketing and ecosystem initiatives, and co-develop digital asset products tailored to the Malaysian market in partnership with Bybit.

Ben Zhou, Co-founder and CEO of Bybit, said, “Malaysia is a strategically important market for Bybit, with one of the most digitally engaged populations in Southeast Asia and strong long term potential for digital asset adoption. We see Hata as the right partner to help serve Malaysian investors through a compliant and regulated platform. By combining Hata’s local market leadership with Bybit’s global strengths in technology and product innovation, we hope to accelerate the growth of Malaysia’s digital asset and tokenised real world asset ecosystem.”

The company is currently the only dual-licensed digital asset exchange in Malaysia, positioning it to operate within the country’s regulatory framework as it scales its offering.