Hata, Malaysia’s fifth regulated digital asset exchange, has obtained full approval from the Securities Commission of Malaysia (SC) and has officially launched its exchange.
Founded by Darien Ng, KK Chong and David Low, Hata is poised to compete with the goliath, Luno, which David previously established and led as the former Asia Pacific general manager. David Low left Luno in May 2023 after five years.
Notably, Hata is also the first exchange to obtain full approval from the Securities Commission of Malaysia since the SC reopened its licence application in November 2022.
To celebrate its full launch, Hata has introduced an affiliate programme. This unique program allows users who sign up on Hata to refer their family and friends to earn a reward. Hata provides a revenue share of 30 per cent from the trading fees it earns to the affiliates who refer their network to trade on Hata’s exchange.
David Low, chief executive officer of Hata, said, “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.”
Additionally, Hata’s exchange boasts the lowest fees compared to other digital asset exchanges. By providing liquidity on Hata’s exchange, users can buy and sell cryptocurrency for free as market makers. Hata does not charge any maker fee on its exchange.
On the other hand, Hata charges a taker fee ranging between 0.4 per cent to 0.1 per cent based on users’ 30-day trading volume. The more a user trades on Hata’s exchange, the cheaper their trading fees will be. This represents at least a 20 per cent discount and savings for Malaysians compared to using other exchanges.
For users who prefer simplicity when buying and selling cryptocurrency, Hata offers an Instant Buy/Sell option, with a minimal one per cent service fee, which is 50 per cent cheaper than other exchanges.
“With attractive fees and a platform that offers the most variety of cryptocurrencies, we hope to redefine the cryptocurrency landscape in Malaysia,” says Darien Ng, chief revenue officer of Hata.
Unlike most exchanges that hold customers’ assets overseas, Hata is deeply rooted in Malaysia, with proprietary technology and custody solutions built by Malaysians for Malaysians.
“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,” says KK Chong, chief technology officer of Hata.
Source: Hata (Press Release)
