In the rapidly evolving cryptocurrency market, users are looking for platforms that combine convenience, security, and regulatory compliance. Launched in 2023, the Hata project offers exactly that by providing digital asset exchange services with fiat currency support and a high level of regulation.
Contents:
- Project Overview
- Hata Regulation and Licensing
- Platform Features
- Team and Investments
- Project Benefits and Prospects
- Conclusion
Project Overview
Hata is a cryptocurrency platform designed to bridge the gap between traditional finance and digital assets. Founded in 2023 in Kuala Lumpur, Malaysia, the company offers online cryptocurrency exchange services and offline OTC services, giving users access to over 50 digital assets, including Bitcoin and Ethereum.
Hata’s core mission is to make digital asset trading accessible and secure for everyone, regardless of experience level. The platform caters to both retail and institutional investors with an intuitive interface and support for fiat currencies such as the Malaysian Ringgit (MYR) and US Dollar (USD).
Hata Regulation and Licensing
One of Hata’s key features is its dual licensing: the platform is regulated by the Securities Commission Malaysia (SC) and the Labuan Financial Services Authority (LFSA). This makes Hata the only cryptocurrency exchange in Malaysia with such a level of regulation, ensuring strong security and user trust.
By strictly complying with regulatory requirements, Hata safeguards user funds by not mixing them with company assets. The platform also implements various risk management protocols to protect client assets.
Platform Features
Hata offers a wide range of tools for working with digital assets, targeting both retail and institutional users. With a combination of online exchange, OTC services, and fiat support, it provides a universal solution for different trader categories. Key platform features include:
- Online Exchange: Hata supports trading of over 50 cryptocurrencies, including popular pairs like BTC/MYR, ETH/MYR, and XRP/MYR. Users can easily buy and sell digital assets using fiat currencies.
- OTC Service: For large transactions, Hata provides an offline OTC service, ensuring competitive pricing and high liquidity through a global exchange network.
- Fiat Support: The platform accepts deposits and allows withdrawals in MYR and USD, offering multiple payment methods, including bank transfers and e-wallets.
- Loyalty Program: Hata has introduced a unique affiliate program that allows users to earn 30% of the trading fees from referred clients.
These features make Hata a compelling platform for users seeking a secure and regulated way to trade digital assets with fiat support. The integration of services into a single ecosystem ensures convenience and security for all market participants.
Team and Investments
The Hata team comprises experienced professionals in digital assets and fintech. CEO David Low previously served as General Manager of Luno in the Asia-Pacific region and holds a law degree. CTO KK Chong is a former university lecturer and co-founder of a blockchain solutions firm. CRO Darien Ng has over 15 years of experience in the tech industry and is also a co-founder of a blockchain development company.
In October 2024, Hata raised $4.2 million in a seed funding round led by Castle Island Ventures and Cadenza Ventures. Other investors include Bybit, AP Capital, Plug and Play Tech Centre, and Alliance DAO. The company had previously secured MYR 3 million in a pre-seed round from angel investors, including 1337 Ventures and Raju Hamzah.
Project Benefits and Prospects
Hata offers users a unique combination of benefits that make it competitive in the digital asset market. With dual regulation and fiat support, Hata provides a high level of trust and convenience. Key platform advantages are listed below:
| Benefit | Description |
|---|---|
| Dual Regulation | Hata is regulated by the Securities Commission Malaysia and the Labuan Financial Services Authority, ensuring high security and trust. |
| Fiat Currency Support | The platform accepts deposits and allows withdrawals in MYR and USD, offering various payment options. |
| Wide Range of Assets | Hata supports trading of over 50 cryptocurrencies, including BTC/MYR, ETH/MYR, and XRP/MYR pairs. |
| OTC Service | Hata offers an offline OTC service for large transactions, ensuring competitive prices and high liquidity across global exchanges. |
| Loyalty Program | Hata’s affiliate program rewards users with 30% of trading fees from clients they refer. |
| Mobile App | Hata has developed a mobile app for iOS and Android, giving users full access to all platform features on the go. |
Thanks to these benefits, Hata aims to become a leading platform for digital asset trading in Asia. Future plans include expanding to other regional markets, launching new products and services, and continuously improving user experience and platform security.
Conclusion
Hata confidently positions itself as a regulated and technologically advanced cryptocurrency platform that combines convenience, security, and rich functionality. With dual licenses, fiat integration, and a strong service ecosystem, the project appeals to both beginners and institutional investors. Given the growing interest in digital assets across Asia, Hata has all the prerequisites to become a key player in the region. Ongoing development and new feature rollouts will further strengthen its market position.
