Hata's Challenge
Hata, Malaysia’s first dual-licensed crypto exchange, has emphasized security, transparency, and regulatory compliance since its launch in 2023. The platform is regulated by both the Securities Commission Malaysia and the Labuan Financial Services Authority, which oversee Hata’s trading, staking, and instant buy/sell services.
Within Malaysia’s regulatory framework, Hata is subject to stringent adherence to AML/KYC standards. As it’s in a growth phase with plans to expand regionally, the exchange has also assumed robust investor protection requirements and reporting transparency obligations.
“Thanks to Notabene, Hata has strengthened its Travel Rule implementation by improving data reliability, operational efficiency, and regulatory confidence as the company continues to scale.”
The problem
Streamline compliance while scaling confidently
“Our previous Travel Rule solution was complex and difficult to interpret, creating uncertainty around the accuracy and completeness of the data exchanged. Limited customer support further compounded these challenges, making issue resolution slow and operationally inefficient.”
As Hata’s transaction volumes increased, ensuring Travel Rule compliance at scale became a central operational challenge. Before Notabene, ensuring Travel Rule compliance relied on a solution that became untenable as transaction volumes grew.
The operational overhead of compliance grew along with transaction volumes, and eventually, Hata’s ability to scale efficiently while maintaining regulatory confidence broke down.
The solution
A scalable travel rule solution built for growth
Notabene’s end-to-end Travel Rule solution now lets Hata automate counterparty information sharing, maintaining a robust compliance program while scaling its operations. When Hata searched for a Travel Rule solution, Notabene Transact stood out for four specific reasons:
Global presence:
Notabene’s reach across multiple jurisdictions ensures reliable compliance and data exchange, even as Hata scales internationally.
Extensive VASP network:
A well-established network of counterparties streamlines Travel Rule transactions and strengthens operational reliability.
Market-leading expertise in Travel Rule compliance
Deep knowledge of regulatory requirements across jurisdictions helped Hata confidently adopt a scalable solution.
Widespread adoption in Malaysia
The majority of regulated digital asset exchanges in Malaysia already rely on Notabene, reinforcing its credibility.
Hands-on support and low-friction onboarding
"Right from the get-go, the Notabene team conducted a comprehensive initial integration call to walk us through the setup process, followed by regular follow-up sessions to address questions and ensure alignment,” Low recalled.
“Throughout the integration, the team was consistently responsive and proactive in supporting our queries, which helped streamline implementation and reduce operational friction."
Notabene’s high standard of support was another key differentiator that helped Hata move quickly and build confidence throughout implementation.
From the initial integration call through regular follow-ups and dashboard navigation tutorials, Notabene has provided Hata’s team with consistent, proactive guidance. Every step of the setup process was clear and aligned with their operational needs.
Maximizing efficiency through a trusted VASP network
Ease of connection with other VASPs in Notabene’s network was another decisive factor in Hata’s vendor evaluation, according to Product Analyst, Dey Ren Ngeow,
“Direct integration with Notabene has enabled seamless and reliable Travel Rule data exchange, specifically with counterparties across Notabene’s VASP network. This has greatly improved interoperability and reduced manual intervention, which has translated into higher operational efficiency, clearer transaction visibility, and improved readiness for audits and regulatory reviews.”
Darien Ng
Chief of Strategy & Product (CSPO)
Future-proof compliance for a rapidly evolving market
Travel Rule compliance remains a rapidly evolving challenge—one that can be particularly difficult for fast-growing exchanges like Hata.
“As Hata continues to scale, we are confident in Notabene’s ability to support our compliance requirements as our primary Travel Rule solution, particularly through its strong reachability and connectivity to other VASPs across the ecosystem”
Strong connectivity to the largest international network of VASPs across the ecosystem.
Proven regulatory expertise and industry-leading guidance that adapts to evolving frameworks.
A solution with growing industry traction that supports sustainable regional expansion.
