Bitget plans to buy GMO-Z.com Cryptonomics (Thailand) Co., Ltd., a licensed Bangkok-based crypto exchange, in a deal that would give it a local base in Thailand.
Bitget Thailand Acquisition
Bitget announced the deal on Oct. 20 and will buy the company through its interest in BTGT Management (Thailand) Ltd. GMO Internet, Inc., its unit GMO-Z.com Holdings (Thailand) Co., Ltd. and other sellers will transfer their full stake to BTGT Management or its designee. Closing still depends on regulatory approval and other conditions.
The Thai company runs a licensed exchange and brokerage. Once the deal closes and regulators approve the change of control, Bitget plans to open its platform to Thai users under local rules.
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Southeast Asia Strategy
Bitget CEO Gracy Chen said entering a market takes local expertise, knowledge of the rules and a long-term commitment. "Thailand is an important part of Southeast Asia's digital asset landscape," Chen said, adding that the company's priority is "to develop the right operational foundation." The company is also weighing further expansion across Southeast Asia.
In January, the exchange announced plans for a European headquarters in Vienna. In July, it said it registered in New Zealand as a financial services provider, and Chen said Bitget would enter the U.S. whether or not Congress passes the Clarity Act.
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