digital-asset-exchange
(2)
Hata
Hata is a Malaysian dual-licensed digital asset exchange that lets people buy, sell, store and stake cryptocurrencies using local fiat. Founded in 2023 and launched in May of that year, it holds licences from both the Securities Commission Malaysia and the Labuan Financial Services Authority - a rare dual-regulated footprint that keeps customer assets custodied inside the country. Led by ex-Luno APAC general manager David Low, Hata grew to more than 209,000 registered users by the end of 2025 and closed an US$8 million Series A led by Bybit in April 2026.
SDAX
SDAX is a Singapore-based, MAS-regulated digital asset exchange that tokenises and fractionalises institutional-grade real-world assets - from real estate and private credit to securitised gold - so investors can access private-market deals from as little as SGD1,000 and trade them on a regulated secondary market.