Bybit Leads $8 Million Investment in Malaysia’s Hata to Accelerate Southeast Asia Expansion

Suehyeon Lee

Summary

Bybit said it invested $8 million after leading Malaysian cryptocurrency exchange Hata’s Series A round.
Hata said it holds dual licenses from Malaysia’s Securities Commission and the Labuan Financial Services Authority, and had recorded trading volume of about 1.04 billion ringgit as of 2025.
Bybit said it will continue expanding in Southeast Asia and the Middle East and North Africa (MENA) region, while pushing to broaden UAE dirham-based services and strengthen cooperation with banks and payment companies.

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Global cryptocurrency exchange Bybit is stepping up its Southeast Asia expansion with an investment in Malaysian digital-asset exchange Hata.

Bybit led Hata’s Series A funding round with an $8 million investment, Cointelegraph reported on April 20. Global family offices also took part in the round. Bybit had previously joined Hata’s $4.2 million seed round.

The proceeds will be used to improve liquidity, expand the user base and develop new digital-asset products.

Hata holds dual licenses from Securities Commission Malaysia and the Labuan Financial Services Authority. The exchange provides cryptocurrency trading and custody services in the country.

Since its 2023 launch, Hata has signed up more than 209,000 users and recorded about 1.04 billion ringgit, or about $225 million, in trading volume as of 2025.

“Malaysia is one of the most digitally engaged countries in Southeast Asia, and it has significant long-term growth potential in crypto adoption,” Bybit co-founder and Chief Executive Officer Ben Zhou said.

Bybit is also expanding in the Middle East. In March, it appointed Derek Dai to lead the Middle East and North Africa region. The company plans to expand UAE dirham-based services and strengthen partnerships with banks and payment providers.