- Hata obtains full approval from
the Securities Commission of Malaysia and launched its exchange
- Support USD onramp
and offramp
- Rolled out affiliate programme, sharing 30% of its trading
fee with users who refer others to trade on its Exchange
- Zero trading fee across major pairs and opportunity to earn
crypto airdrop
KUALA
LUMPUR, Malaysia, July 19,
2024 /PRNewswire/ -- Hata has officially secured full
approval from the Securities Commission of Malaysia to launch its exchange. Having obtained full approval from
the Labuan Financial Services Authority (a mid-shore
jurisdiction in Malaysia) in June
2023, Hata is now the first and only dual-licensed exchange by
both onshore and mid-shore regulators in Malaysia.
Filling the gap in Asia with USD onramp and
offramp
Hata operates a US Dollar
cryptocurrency exchange, allowing users globally to deposit, trade
and withdraw funds in US Dollars. Hata users can also swap US
Dollars with USDT for free.
With the foreign exchange market in Asia Pacific recorded at $396 trillion annually[1], Hata aims
to serve the large US Dollar foreign exchange market by providing
traders and institutions a licensed platform to convert US
Dollars into stablecoins to
facilitate cross border payments and access
cryptocurrency in the region.
"Institutions and high net worth individuals
still rely heavily on US Dollars to settle cross border
transactions in Asia. With
institutional adoption into cryptocurrency on the
rise, coupled with weakening local currencies in the region against
US Dollar, we foresee users moving their monies into USD pegged
stablecoins to conduct transactions." says David Low, Chief Executive Officer of
Hata.
Hata currently supports trading of more than 40
cryptocurrency pairs on its platform that are paired
with USDT and US Dollar, with the goal of supporting more
crypto products in the near future.
30% Revenue Share on its Exchange
Hata (www.hata.io) has introduced an affiliate
program. Any users who sign up on Hata can refer their family and
friends to earn a reward. Hata provides a revenue share of 30% from
the trading fees it earns to the affiliates who refer their network
to trade on Hata's exchange.
"This affiliate programme is designed to let
users globally capitalise on their network to earn rewards. We hope
that this provides an economic opportunity for our users to earn a
side income with minimal effort," says Darien Ng,
Chief Revenue Officer of Hata.
Zero trading fees and free
airdrop
To further incentivise early users, Hata has also
rolled out zero fees for its major crypto pairs,
including USD/USDT pair.
Users who sign up from
now until 31 October 2024 and trade
on the exchange will be added to a waitlist. Users in
the waitlist will have an opportunity to earn free airdrops in the
near future.
[1]
https://www.bis.org/publ/qtrpdf/r_qt2212f.pdf &
https://www.bis.org/publ/bppdf/bispap82e_rh.pdf
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SOURCE Hata