Key Takeaways
- • Bitget has agreed to acquire GMO-Z.com Cryptonomics (Thailand), a licensed Bangkok-based digital asset exchange and brokerage, according to Investing.com, giving the exchange a regulated foothold in Thailand.
- • Under the deal, GMO and its subsidiary GMO-Z.com Holdings (Thailand), among other holders, will sell their entire stake to BTGT Management (Thailand), an entity in which Bitget holds an interest.
- • Financial terms were not disclosed, and completion is subject to Thai regulatory approval, including approval of the change of control.
- • Bitget plans to offer its trading platform to Thai users through the locally operated exchange once the deal closes and approvals are secured.
- • The exchange reportedly serves more than 125 million users and offers crypto tokens alongside tokenized stocks, ETFs, commodities and foreign exchange.
Summary
Bitget has agreed to acquire GMO-Z.com Cryptonomics (Thailand), a licensed digital asset exchange and brokerage based in Bangkok, Investing.com reported. The transaction would give Bitget a regulated presence in the Thai market, which it currently lacks through a locally licensed operator.
Under the agreement, Japan-based GMO and its subsidiary GMO-Z.com Holdings (Thailand), among other shareholders, will sell their entire stake in the business to BTGT Management (Thailand), an entity in which Bitget holds an interest. Financial terms were not disclosed. Completion is subject to regulatory approval, including approval for the change of control.
Thailand requires digital asset exchanges to be licensed by the Securities and Exchange Commission (SEC), and the country moved last year to block access to several unlicensed foreign platforms. Acquiring a licensed local operator is therefore the route through which Bitget plans to serve Thai users. Once the deal closes and approvals are secured, Bitget intends to bring its trading platform to Thai customers through the locally operated exchange.
According to information seen by Investing.com, Bitget continues to evaluate further expansion opportunities across Southeast Asia. The exchange is said to serve more than 125 million users and offers trading in crypto tokens alongside tokenized stocks, ETFs, commodities and foreign exchange products.
Under the agreement, Japan-based GMO and its subsidiary GMO-Z.com Holdings (Thailand), among other shareholders, will sell their entire stake in the business to BTGT Management (Thailand), an entity in which Bitget holds an interest. Financial terms were not disclosed. Completion is subject to regulatory approval, including approval for the change of control.
Thailand requires digital asset exchanges to be licensed by the Securities and Exchange Commission (SEC), and the country moved last year to block access to several unlicensed foreign platforms. Acquiring a licensed local operator is therefore the route through which Bitget plans to serve Thai users. Once the deal closes and approvals are secured, Bitget intends to bring its trading platform to Thai customers through the locally operated exchange.
According to information seen by Investing.com, Bitget continues to evaluate further expansion opportunities across Southeast Asia. The exchange is said to serve more than 125 million users and offers trading in crypto tokens alongside tokenized stocks, ETFs, commodities and foreign exchange products.
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