Hata, a regulated Malaysian cryptocurrency exchange, has raised $4.2 million in a seed funding round led by Castle Island Ventures. Other participants in the round included Cadenza Ventures, Bybit, AP Capital, Plug and Play Tech Center, and Alliance.xyz. The raised funds will be utilized for platform development and expansion of Hata's services. The exchange aims to become a leading player in the Southeast Asian cryptocurrency market by providing a secure and user-friendly platform for trading digital assets. The investment is a testament to the growing interest in cryptocurrency exchanges in Southeast Asia, a region with a large and rapidly growing population of cryptocurrency users. Hata is well-positioned to capitalize on this growth with its strong team and commitment to compliance and security.