KUALA LUMPUR (April 21): Hata, Malaysia's only dual-licensed digital asset exchange, closed an US$8 million (RM31.6 million) Series A funding round led by Bybit, the world's second largest cryptocurrency exchange by trading volume, alongside several prominent family offices, mostly out of Singapore.

The fundraise marks the beginning of a deep strategic collaboration between the two companies, one that goes beyond capital and signals a shared commitment to growing Malaysia's digital asset ecosystem responsibly at scale, according to a press release.

"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 trusted and regulated platform," said Ben Zhou, co-founder and CEO of Bybit.

"By combining Hata's local market leadership with Bybit's global strength in technology and product innovation, we hope to accelerate the growth of Malaysia's digital asset and tokenised real-world asset ecosystem," he added.

The Series A round builds on Bybit's earlier participation in Hata's US$4.2 million seed round, deepening a relationship that now extends into strategic collaboration. The round also saw participation from several global family offices with a strong focus on Southeast Asian technology and financial markets.

According to its press release, Hata will deploy the proceeds across three key areas: strengthening its liquidity on its platform, accelerating user growth through its marketing and ecosystem initiatives, and jointly developing innovative digital asset products tailored for Malaysians with Bybit.

"The 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 protections.

"Together, we will combine Hata's trusted local platform with Bybit's global expertise in technology and product innovation to expand what is possible for Malaysian users," said David Low, CEO of Hata.