Hata.io
Overview
Hata.io is a Kuala Lumpur-based cryptocurrency exchange platform that bridges the traditional financial systems with the burgeoning world of digital assets. Founded in 2023 by David Low, KK Chong, and Darien Ng, Hata.io aims to provide secure and accessible services for buying and selling cryptocurrencies using fiat currencies. The company has quickly expanded its presence with the recent raise of USD 4.2 million in seed funding, backed by prominent institutional investors like Castle Island Ventures and Cadenza Ventures, to support its growth in the Asian market.
Recent Developments
- October 2024: Hata.io successfully raised $4.2 million in seed funding to expand its product offerings and customer base across the Asia-Pacific region. The funding round was led by U.S.-based Castle Island Ventures and Cadenza Ventures, along with participation from Bybit, AP Capital, and other investors. Castle Island Ventures and Cadenza Ventures will join Hata’s Board of Directors.
- July 2024: Hata secured full approval from the Securities Commission of Malaysia to launch its exchange and rolled out a zero-trading fee model for major crypto pairs. The company also introduced an affiliate program offering a 30% revenue share from trading fees for users who refer others to the platform.
- April 2024: Hata introduced new cryptocurrencies like Worldcoin, Cosmos, and Polkadot to its platform, allowing for expanded trading options and enhancing its global platform licensing through the Labuan Financial Services Authority.
- January 2024: Hata enabled trading of digital tokens from pitchIN’s Token Crowdfunding platform, partnering to enhance liquidity for tokens traded on Hata’s exchanges.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2023 |
| Headquarters | Kuala Lumpur, Malaysia |
| Founders | David Low, KK Chong, Darien Ng |
| Revenue | Information not publicly disclosed |
| Profits | Information not publicly disclosed |
| Key Investors | Castle Island Ventures, Cadenza Ventures, Bybit, AP Capital, Plug and Play Tech Centre, Alliance.xyz |
| Industry | Cryptocurrency Exchange |
| Number of Employees | 31 |
Early History
Hata.io was founded in 2023 by a team of seasoned professionals with backgrounds in the blockchain and technology sectors. The founding team includes David Low, formerly the General Manager of Luno’s Asia Pacific operations, KK Chong, a former university lecturer and co-founder of a blockchain solutions company, and Darien Ng, with 15 years of experience in technology. Hata aimed to address the burgeoning demand for licensed and regulated platforms to trade cryptocurrencies in Malaysia and the broader Asia-Pacific region. The company gained traction by leveraging the distinct advantage of being the only dual-licensed exchange in Malaysia, regulated by both the Securities Commission Malaysia and the Labuan Financial Services Authority.
Company Profile and Achievements
Hata.io operates as a cryptocurrency exchange, offering a platform to buy, sell, and trade digital assets with fiat currency, including the US Dollar and Malaysian Ringgit. Some key achievements and milestones include:
- Raising $4.2 million in seed funding to fuel expansion in Asia.
- Becoming the first and only dual-licensed exchange in Malaysia by the Securities Commission and Labuan Financial Services Authority, which provides significant trust and safety to users.
- Launching zero-trading fees on major cryptocurrency pairs and an affiliate program that promotes user engagement by offering financial incentives for referrals.
- Enhancing service offerings by adding new cryptocurrencies, like Worldcoin, to its trading platform.
- Establishing partnerships with token crowdfunding platforms like pitchIN to enable secondary market trading, thereby enhancing liquidity and trading opportunities for digital tokens.
Current Operations and Market Position
Currently, Hata.io positions itself as a major player in Malaysia's regulated cryptocurrency exchange landscape, with significant expansion plans in Asia. The exchange accommodates both retail and institutional investors who prefer trading in fiat currencies. With regulatory compliance guaranteed and an efficient platform, Hata offers competitive advantages such as low trading fees and diverse cryptocurrency offerings. Its strategic initiatives include ongoing product expansion and market penetration efforts to solidify its presence in the Asia-Pacific digital asset market.
Binance
The growth of Hata.io can likely be compared to Binance, one of the leading cryptocurrency exchanges, known for its massive trading volumes and wide range of supported cryptocurrencies.
Hata Io Company Owner
David Low, CEO and co-founder, leads Hata.io. He brings a wealth of experience from his previous position as Asia Pacific General Manager for Luno, focusing on compliance and market growth strategies. David collaborates with co-founders KK Chong and Darien Ng to drive Hata's mission and vision forward.
Conclusion
Hata.io is carving a niche for itself in the competitive world of cryptocurrency exchanges by focusing on regulatory compliance and innovative service offerings. With its recent seed funding and strategic focus on expanding across Asia, Hata is well poised to become a leading player in the region, potentially setting new standards for security, accessibility, and affordability in the digital asset trading space.