Bitget seeks Thai crypto exchange purchase to expand regional presence
GMO Internet and other shareholders would sell their stakes to BTGT Management or its designated buyer, with regulatory clearance still required.
Bitget plans to expand its Southeast Asian presence by purchasing GMO-Z.com Cryptonomics, a Bangkok-based operator of a licensed cryptocurrency exchange and brokerage. The company intends to carry out the acquisition through its interest in BTGT Management in Thailand.
The proposed sale would see GMO Internet, together with its subsidiary GMO-Z.com Holdings and other shareholders, dispose of their entire stakes. BTGT Management or a buyer it designates would acquire those holdings. Completion depends on regulatory clearance and the fulfilment of other conditions.
Bitget CEO Gracy Chen said the acquisition would give the company an opportunity to set up local operations. She described establishing an operational foundation as a priority, alongside applying Bitget’s international experience and capabilities in Thailand.
Bitget intends to offer its trading platform to Thai users in line with local rules, but only after completion of the purchase and regulatory consent for the ownership change.
