Hata Digital Sdn Bhd (Hata), Malaysia’s 5th regulated Digital Asset Exchange (DAX), has received full approval from the Securities Commission Malaysia (SC) to launch its USD cryptocurrency exchange.
Having obtained full approval from the Labuan Financial Services Authority Financial Services Authority (a mid-shore jurisdiction in Malaysia) in June 2023, Hata is notably the first and only dual-licensed exchange by both onshore and mid-shore regulators in Malaysia.
The platform supports trading for over 40 cryptocurrency pairs that are paired with USDT and USD, unlike other local platforms that trade in MYR. It also offers the lowest trading fees among local regulated exchanges, with maker fees 0% and taker fees between 0.1% to 0.4%. There’s also a simple Instant Buy/Sell option with a 1% fee.
Interestingly, Hata supports instant deposits and withdrawals via bank transfer, another feature only available on Hata, in which users can have unlimited MYR deposits and a daily withdrawal limit of RM250,000, which can be increased for VIP customers under specific terms. It is also currently the only exchange that accepts deposits from e-wallets like GrabPay and Boost (with a 1.5% fee).
Interestingly, Hata is founded by Darien Ng, KK Chong, and David Low – the latter previously spent five years as Luno’s Asia Pacific general manager.
To celebrate its full launch, Hata has introduced an affiliate program that allows you to earn rewards by referring your family and friends, in which you’ll receive a 30% revenue share from the trading fees generated by your network on Hata’s exchange.
“Hata is the first and only exchange to roll out an affiliate programme based on a revenue sharing model. This affiliate programme is designed to let Malaysians capitalise on their network to earn a reward, providing an economic opportunity for Malaysians to earn a side income with minimal effort,” said David Low, CEO of Hata.
Hata’s exchanges are already up and running – find out more at its official website.
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