Malaysia’s newest regulated digital asset exchange Hata has officially launched after securing the full approval from the Securities Commission of Malaysia (SC).
As the country’s 5th regulated digital asset exchange, Hata is the first to receive full approval from the SC since license applications were reopened in November 2022.
To mark its launch, Hata has introduced an affiliate programme offering users a 30% share of the trading fees from those they refer to the platform.
According to Hata, its exchange features the lowest fees among digital asset exchanges in Malaysia.
Users providing liquidity can trade for free as market makers, with no maker fees charged.
Taker fees range from 0.4% to 0.1%, depending on a user’s 30-day trading volume, offering at least a 20% discount compared to other exchanges.
An Instant Buy/Sell option is also available, with a 1% service fee, which is 50% cheaper than competitors.
Hata Digital Sdn Bhd, the licensed entity under the SC, holds all digital asset keys, ensuring that customers’ assets remain within Malaysia.
Founded by Darien Ng, KK Chong, and David Low, Hata is a fully homegrown exchange that aims to compete with established players like Luno, which David Low previously led as Asia Pacific general manager until May 2023.
“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.
“Our digital asset keys are held by Hata Digital Sdn Bhd, the licensed entity under the Securities Commission of Malaysia.
Therefore, Malaysians can be rest assured that their digital assets are fully kept and controlled within Malaysia,”
said KK Chong, Chief Technology Officer of Hata.
Featured image: Hata Founders Darien Ng (left), David Low (centre), KK Chong (right)
