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Hata receives in-principle approval to be fifth Malaysian digital exchangeThe new exchange was founded by an executive from Malaysian market leader Luno. It will target investors, businesses, and high-net-worth individuals.
The Malaysia-based Hata has received in-principle approval from Securities Commission Malaysia (SC) to register as a Recognized Market Operator (RMO) as a digital asset exchange and digital broker. The approval means Hata could launch its services in six to nine months.
Hata will becomethe fifth regulated digital asset exchange in Malaysia and the first legal entity to receiveapproval as a digital broker, allowing it to display trade orders from other regulated exchanges. Hata also received a money broker license from the Labuan Financial Services Authority in June, allowing it to exchange USD. The Labuan International Business and Financial Centre is a special economic zone.
Related: Malaysia enlists China to help end USD dependence for trade
Hata was co-founded by David Low, who left Luno, Malaysia’s largestcrypto exchange by far, in April. Low oversaw Luno’s debut as Malaysia’s first digital asset exchange in 2019. Low saidin a statement:
“We plan to make digital assets investing easier for institutional investors, businesses, and high-net-worth individuals in Malaysia.”
Other crypto exchanges have tried to crack the Malaysian market. SC ordered Binance to cease operationsin the country in July 2020 for lack of RMO status, although the exchange did not close down thereuntil a year later. Binance found its way back to Malaysia in March, when it bought a stake in RMO MX Global. Huobi Global (now HTX) was told to close in Malaysiain May, also for not registering with SC.
David Low-Led Hata to Become Malaysia’s 5th Regulated Digital Asset Exchange https://t.co/dj1AdDzuXG#fintech#blockchain#digitalaseet
— FintechNews Malaysia (@FintechNewsMy) October 9, 2023
Malaysians also have the option of trading crypto on an app offered by Kenanga Investment Bank Berhad. The large private bank partnered with China’s Ant Group in August 2022 to launch a wallet and trading app.
Magazine: China expands CBDC’s tentacles, Malaysia is HK’s new crypto rival: Asia Express新加坡星展银行将推出零售代币化黄金产品Techub News 消息，据 CoinDesk 报道，新加坡星展银行（DBS）宣布将于 2026 年下半年向零售客户推出代币化黄金产品。每个代币由 1 克实物黄金支持，存储于该行新加坡专用金库。
该产品将在 digibank 平台上线，并可能登陆面向合格投资者和机构的 DBS Digital Exchange。此举标志着传统金融机构持续布局真实世界资产（RWA）代币化领域，此前该行已于 2025 年在以太坊上代币化结构性票据并上线富兰克林邓普顿代币化货币基金。The new exchange was founded by an executive from Malaysian market leader Luno. It will target investors, businesses, and high-net-worth individuals. The Malaysia-based Hata has received in-principle approval from Securities Commission Malaysia (SC) to register as a Recognized Market Operator (RMO) as a digital asset exchange and digital broker. The approval means Hata could launch its services in six to nine months. Hata will becomethe fifth regulated digital asset exchange in Malaysia and the first legal entity to receiveapproval as a digital broker, allowing it to display trade orders from other regulated exchanges. Hata also received a money broker license from the Labuan Financial Services Authority in June, allowing it to exchange USD. The Labuan International Business and Financial Centre is a special economic zone. Related: Malaysia enlists China to help end USD dependence for trade Hata was co-founded by David Low, who left Luno, Malaysia’s largestcrypto exchange by far, in April. Low oversaw Luno’s debut as Malaysia’s first digital asset exchange in 2019. Low saidin a statement: “We plan to make digital assets investing easier for institutional investors, businesses, and high-net-worth individuals in Malaysia.” Other crypto exchanges have tried to crack the Malaysian market. SC ordered Binance to cease operationsin the country in July 2020 for lack of RMO status, although the exchange did not close down thereuntil a year later. Binance found its way back to Malaysia in March, when it bought a stake in RMO MX Global. Huobi Global (now HTX) was told to close in Malaysiain May, also for not registering with SC. David Low-Led Hata to Become Malaysia’s 5th Regulated Digital Asset Exchange https://t.co/dj1AdDzuXG#fintech#blockchain#digitalaseet — FintechNews Malaysia (@FintechNewsMy) October 9, 2023 Malaysians also have the option of trading crypto on an app offered by Kenanga Investment Bank Berhad. The large private bank partnered with China’s Ant Group in August 2022 to launch a wallet and trading app. Magazine: China expands CBDC’s tentacles, Malaysia is HK’s new crypto rival: Asia Express
