PANews, October 22, reported by theedgemalaysia.com, that Hata Digital Sdn Bhd, the fifth licensed digital asset exchange in Malaysia, successfully raised $4.2 million (18.07 million MYR) in seed funding, which is planned for expanding new products and growing its user base in Asia. This round of financing was led by American venture capital firms Castle Island Ventures and Cadenza Venture, with participants including global cryptocurrency exchange Bybit, Singapore-based investment firm AP Capital, American venture capital firm Plug and Play Tech Center, and crypto accelerator Alliance.xyz.

Hata CEO David Low stated that gaining support from internationally renowned institutional investors will help the company build a stronger digital asset trading platform in Malaysia and Asia, enhancing user confidence. Castle Island founding partner Nic Carter believes that Southeast Asia is a core market for global cryptocurrency adoption, and Hata has a strong competitive advantage with its differentiated products and compliance strategies.