Hata, a licensed digital asset exchange (DAX) regulated by the Securities Commission Malaysia (SC), has obtained Shariah certification for its platform, making it the first DAX in Malaysia to achieve this milestone. 

The certification was announced on 5 May 2026, following a year-long review by independent Shariah adviser Amanie Advisors Sdn Bhd.

What The Shariah Certification Covers

The review assessed whether Hata’s platform structure and operations comply with Shariah principles. This included its Digital Broker and Exchange services, the screening of digital assets offered, wallet services, trustee account arrangements, treatment of unallocated deposits, staking services, fee structures, affiliate programmes, and safeguards against non-Shariah compliant activities.

To date, Hata has surpassed 218,000 users and processed over RM1.04 billion in transactions in 2025, with peak monthly fiat deposits reaching RM28.7 million.

Built For Shariah-Conscious Investors

For Muslim investors who have been cautious about digital asset trading, this certification covers more than just screening individual cryptocurrencies for Shariah compliance. Malaysia already has 15 SC-approved Shariah-compliant cryptocurrencies available on licensed exchanges, but those approvals apply only to the assets themselves. Hata’s platform-level certification means the entire operation, from trade execution to fee structures and deposit handling, has been assessed against Shariah principles. For Muslim investors, this offers a more comprehensive level of assurance.

Hata’s certification also covers its staking service, which is currently available for Solana (SOL). Staking involves locking up a digital asset to help validate blockchain transactions, in return for rewards. With this service now certified as Shariah-compliant, Muslim investors can participate without concerns that the reward mechanism conflicts with Islamic finance principles.

The Protections That Come With A Licensed Exchange

Trading on an SC-licensed DAX also comes with regulatory protections that apply regardless of faith. Licensed exchanges are required to follow local regulations designed to protect users, including the segregation of customer funds from company funds. If issues arise on an unlicensed platform, investors typically have limited legal recourse in Malaysia.

A Great Signal For Islamic Finance

The certification aligns with Malaysia’s strong position in Islamic finance, with the country retaining its top ranking in the 2025 Global Islamic Finance Development Index. As the global Islamic fintech market is projected to reach USD 341 billion by 2029, Hata’s platform-level certification further strengthens Malaysia’s presence in the regulated digital asset space.

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Iman Aminuddin

Iman writes about personal finance with curiosity. She is interested in the stories behind money, the hesitation around big decisions, and the small habits that shape financial futures. Off the clock, she is either dissecting a film or climbing her way up the leaderboard in her favourite games.

About THE AUTHOR

Iman Aminuddin

Iman Aminuddin

Iman writes about personal finance with curiosity. She is interested in the stories behind money, the hesitation around big decisions, and the small habits that shape financial futures. Off the clock, she is either dissecting a film or climbing her way up the leaderboard in her favourite games.

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