Shiba Inu Supply Reduction Momentum Returns With Burn Rate Surging 1,034%
Shiba Inu's burn rate skyrockets by 1,034%, with over 27 million SHIB burned in 24 hours!
U.Today1 min read
Bybit leads funding for Malaysia’s Hata dual-licensed crypto platform
TL;DR
Bybit has led an $8 million Series A funding round for Hata, a dual-licensed crypto exchange in Malaysia. The funding aims to enhance liquidity, expand the user base, and develop new digital asset products.
Key points
- Bybit led an $8 million Series A funding round for Hata
- Hata is a dual-licensed crypto exchange in Malaysia
- Funding will improve liquidity and expand user base
- Hata has over 209,000 registered users
- Hata processed about $225 million in transaction volume
Mentioned in this story
BybitHataMalaysia
Bybit has led an $8 million Series A funding round in Hata, a dual-licensed digital asset exchange operating in Malaysia. The round also 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 launching in 2023, the company has reported more than 209,000 registered users and processed 1.04 billion Malaysian ringgits (about $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 data from CoinMarket.
Beyond the region, the exchange is also deepening its commitment to the Middle East. In March, Bybit appointed Derek Dai as the new country manager for the MENA region to oversee expansion and partnerships despite ongoing regional tensions.
Dai said the Middle East is emerging as a key crypto market, with Bybit planning to expand UAE dirham access and build partnerships with banks and payment providers in the coming months.
Related: Rwanda swats Bybit’s P2P platform offering franc-to-crypto trading
Malaysia builds out digital asset regulatory framework
The investment from Bybit comes as Malaysia has been developing its regulatory framework for digital assets through a series of initiatives and pilot programs.
In June, Malaysia launched its Digital Asset Innovation Hub as a regulatory sandbox, allowing fintech and digital asset firms to test use cases such as programmable payments, ringgit-backed stablecoins and supply chain financing under central bank oversight.
Q&A
What is Hata and what services does it offer in Malaysia?
Hata is a dual-licensed digital asset exchange in Malaysia that offers trading and custody services for digital assets.
How much funding did Bybit provide to Hata in their Series A round?
Bybit led an $8 million Series A funding round for Hata.
What are the future plans for Hata following the funding round?
Hata plans to use the funding to improve liquidity, expand its user base, and develop additional digital asset products.
