KUALA LUMPUR: Malaysian cryptocurrency exchange Hata.io has successfully raised US$4.2 million in seed funding, marking a major step toward expanding its services and user base across the Asia Pacific region.
Founded by David Low, former Asia Pacific General Manager of Luno Malaysia, Hata.io is committed to providing secure and user-friendly cryptocurrency trading solutions tailored to both retail and institutional investors.
Fully Licensed and Compliant
In July 2024, Hata.io received full approval from the Securities Commission Malaysia (SC) to operate as a Digital Asset Exchange (DAX), becoming the fifth licensed DAX in the country. Additionally, the exchange holds a license from the Labuan Financial Services Authority, enabling it to serve both domestic and international users.
This dual licensing underscores Hata.io’s focus on regulatory compliance and investor protection, distinguishing it as a trusted platform in Malaysia's growing cryptocurrency sector.
Diverse Product Offerings and Features
Hata.io offers a wide selection of cryptocurrency trading options, including:
- Major assets: Bitcoin (BTC) and Ethereum (ETH).
- Emerging tokens: Worldcoin (WLD), Cosmos (ATOM), and Polkadot (DOT).
The platform supports trading in both Malaysian Ringgit (MYR) and US Dollar (USD), catering to a diverse investor base.
Innovative Features:
- 30% revenue-sharing affiliate program: Encourages users to grow the platform’s network by referring others.
- Zero trading fees: Available on major cryptocurrency pairs, appealing to cost-conscious traders.
Seed Funding and Growth Plans
The seed funding round, led by Castle Island Ventures and Cadenza Ventures, both of whom have joined Hata.io’s Board of Directors, will enable the company to:
- Expand product offerings to cater to evolving investor needs.
- Accelerate user acquisition across the Asia Pacific region.
Experienced Leadership Driving Success
Hata.io’s leadership team is a key factor in its growth and market positioning:
- David Low (CEO): A seasoned lawyer and pioneer in Malaysia’s cryptocurrency sector, having launched the country’s first licensed DAX in 2019.
- KK Chong (CTO): Former university lecturer and blockchain solutions co-founder, bringing technical expertise to the platform.
- Darien Ng (CRO): A veteran in the tech industry with over 15 years of experience, focusing on operational and customer relationship excellence.
Strategic Positioning for Future Growth
Hata.io’s strong regulatory foundation, innovative product offerings, and strategic expansion plans position it to compete with established players in the rapidly evolving digital asset market. By catering to both fiat currency traders and cryptocurrency enthusiasts, the platform underscores its commitment to making digital asset trading more accessible, secure, and cost-effective for a broad audience.
For more information, visit Hata.io and explore how the platform is shaping the future of cryptocurrency trading in Malaysia and beyond.
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