Bybit Invests $8 Million in Malaysian Crypto Exchange Hata
- Bybit has led an $8 million Series A funding round for Hata, a dual-licensed digital asset exchange in Malaysia.
- The funding aims to enhance liquidity, expand the user base, and develop new digital asset products.
- Hata has over 209,000 registered users and processed approximately $225 million in transaction volume since its launch.
- Malaysia’s regulatory framework for digital assets is evolving, including initiatives like the Digital Asset Innovation Hub.
- Ben Zhou, CEO of Bybit, emphasized Malaysia’s potential for digital asset adoption.
This investment highlights Bybit’s commitment to expanding in Southeast Asia as Malaysia strengthens its digital asset regulations through various pilot programs and initiatives. The central bank is also exploring tokenization and stablecoins under its regulatory sandbox.
With Hata processing about $225 million in transactions, Bybit’s investment positions it well to capitalize on Malaysia’s growing crypto market potential. (Source)
