Hata is a dual-licensed cryptocurrency exchange in Malaysia that facilitates the buying, selling, and management of digital assets using fiat currencies like the US Dollar and Malaysian Ringgit. By providing a regulated and user-friendly platform, Hata enables users to access cryptocurrencies securely while ensuring compliance with local financial regulations.
Funding
$4.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
1VADBPAFounders
Product
Problem
Many individuals in Malaysia lack a secure and regulated platform to easily buy, sell, and manage cryptocurrencies using fiat currencies like the US Dollar and Malaysian Ringgit. This can limit access to the digital asset market and expose users to unregulated exchanges with higher risks.
Solution
Hata provides a regulated cryptocurrency exchange platform that allows users to securely buy, sell, and manage digital assets using fiat currencies. As a dual-licensed exchange in Malaysia, Hata is regulated by both the Securities Commission Malaysia and the Labuan Financial Services Authority, ensuring compliance with local financial regulations and offering a transparent and orderly market. The platform utilizes Multi Party Computation (MPC) technology for institutional-grade custody of cryptocurrencies and partners with a licensed trustee to safeguard customers’ fiat currencies, ensuring assets are backed 1:1 and not commingled with company funds. Hata aims to bridge the gap between traditional finance and the cryptocurrency world, offering a user-friendly platform for both new and experienced investors.
Target Audience
Hata primarily targets individuals in Malaysia and globally who are looking for a regulated and user-friendly platform to invest in and manage cryptocurrencies using fiat currencies.
Features
- Supports buying, selling, and management of over 40 cryptocurrencies.
- Facilitates transactions using fiat currencies, including US Dollar and Malaysian Ringgit.
- Employs Multi Party Computation (MPC) technology for secure cryptocurrency custody.
- Partners with a licensed trustee to safeguard fiat currencies.
- Offers a mobile app for simplified trading and investment.
- Provides an instant buy/sell feature for quick transactions.
- Features a digital marketplace for rapid cryptocurrency exchange.
- Offers an auto-invest feature for consistent investing.