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- Bybit leads an $8M Hata round to boost liquidity, users, and digital asset offerings.
- Hata operates under Malaysian licenses with 209K users and $225M annual volume.
- Malaysia expands crypto framework with sandbox pilots for stablecoins and tokenized deposits.
Bybit led an $8 million Series A funding round in Hata, a Malaysia-based digital asset exchange. The round included global family offices and followed Bybit’s earlier participation in Hata’s $4.2 million seed funding announced previously.
It added that the capital would enhance liquidity and boost user acquisition. The raised capital will enable the development of innovative digital asset offerings. According to the press release, the deal was completed on Monday.
Hata runs with a license from the Securities Commission Malaysia and the Labuan Financial Services Authority. Such licenses make it possible for the firm to provide trading and custody services. This arrangement means that Hata is a part of Malaysia’s regulated digital assets space.
Hata Growth Signals as Bybit Targets Global Markets
The platform debuted operations in 2023 and recorded more than 209,000 accounts. As for the transaction volume, Hata has transacted 1.04 billion Malaysian ringgits worth of transactions annually since 2025. In US dollars, this number equals roughly $225 million.
Ben Zhou said Malaysia holds strong long-term potential for digital asset adoption. He noted the country has a highly engaged digital population. He described the market as strategically important for future growth.
Bybit ranks among the largest crypto exchanges by trading volume. CoinMarketCap data places it fifth globally. The company continues to expand through direct investments and regional initiatives.
The firm is also increasing its focus on the Middle East market. It appointed Derek Dai as country manager for the MENA region in March. His role includes overseeing partnerships and expansion plans.
Dai said the Middle East is emerging as a key crypto region. Bybit plans to expand access to UAE dirham services. It also aims to build partnerships with banks and payment providers in the region.
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Malaysia has introduced several regulatory steps to support digital assets. Authorities are building a framework through pilot programs and structured initiatives. These measures aim to balance innovation with compliance.
Malaysia Boosts Digital Assets With New Sandbox Programs
In June, Malaysia launched its Digital Asset Innovation Hub. The sandbox allows firms to test programmable payments and stablecoins. It also supports supply chain financing use cases under central bank oversight.
In the same month, a telecommunications company associated with Crown Prince Ismail Ibrahim introduced RMJDT. This is a stablecoin that is pegged to the Malaysian ringgit. It runs on the Zetrix blockchain in the sandbox framework.
In November, the Bank of Malaysia provided a three-year roadmap. The roadmap is based on initiatives such as asset tokenization and pilot projects. They include tokenized deposits, stablecoins, and cross-border settlement.
The central bank further established a task force alongside the Securities Commission of Malaysia. This would involve coordinating activities as well as regulation in the industry. Legal and operational aspects will be considered.
Recently, the central bank confirmed three sandbox initiatives. They involve stablecoins and tokenized deposits pegged to the ringgit. Companies taking part in the project include Standard Chartered, CIMB Group, and Maybank.
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