KUALA LUMPUR: Malaysia-based cryptocurrency exchange Hata.io has successfully raised US$4.2 million in seed funding, marking a significant milestone in its journey to expand its services and user base across the Asia Pacific region.
Founded by David Low, the former Asia Pacific General Manager of Luno Malaysia, Hata.io aims to provide secure and user-friendly cryptocurrency trading solutions for both retail and institutional investors.
Fully Licensed and Compliant
In July 2024, Hata.io obtained full approval from the Securities Commission Malaysia (SC) to operate as a Digital Asset Exchange (DAX), making it the fifth licensed DAX in the country. The exchange also holds a license from the Labuan Financial Services Authority, enabling it to cater to both Malaysian and international users.
This dual licensing highlights Hata.io’s dedication to regulatory compliance and investor protection, setting it apart as a trusted platform in Malaysia's cryptocurrency sector.
Product Offerings and Features
Hata.io provides access to a diverse range of cryptocurrency pairs, including:
- Major assets: Bitcoin (BTC) and Ethereum (ETH).
- Emerging tokens: Worldcoin (WLD), Cosmos (ATOM), and Polkadot (DOT).
The platform supports trading in Malaysian Ringgit (MYR) and US Dollar (USD), catering to a wide range of investors.
Innovative Features:
- 30% revenue-sharing affiliate program: Incentivizes users to refer others to the platform.
- Zero trading fees: Available on major cryptocurrency pairs, making it attractive for cost-conscious traders.
Seed Funding and Growth Plans
The seed funding round, announced in October 2024, was led by Castle Island Ventures and Cadenza Ventures, both of which have joined Hata.io’s Board of Directors.
The funds will be used to:
- Expand product offerings to meet the evolving needs of investors.
- Accelerate user acquisition in the Asia Pacific region.
Experienced Leadership
Hata.io’s leadership team is a cornerstone of its success:
- David Low (CEO): A qualified lawyer with extensive experience, including launching Malaysia’s first DAX in 2019.
- KK Chong (CTO): Former university lecturer and blockchain solutions co-founder.
- Darien Ng (CRO): A tech industry veteran with over 15 years of experience.
Positioning for the Future
With its strategic growth initiatives, regulatory adherence, and innovative offerings, Hata.io is well-positioned to compete with established players in the region’s dynamic 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 growing 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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