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Bitget to Acquire Thai Crypto Exchange GMO-Z.com
Bitget has announced plans to acquire GMO-Z.com Cryptonomics (Thailand) Co., Ltd., a licensed digital asset exchange in Thailand, pending regulatory approval. The acquisition will be executed through Bitget’s investment in BTGT Management (Thailand) Ltd., which is set to receive the shares from GMO Internet Group, the Japanese parent company of the Thai unit. The transfer is expected to be completed by October 31, 2026, contingent on approval from local authorities.
The decision to sell comes after GMO Internet Group's brief tenure in the Thai market, having acquired the exchange in 2025. By March 2026, the company indicated its intent to withdraw, citing challenging conditions in Thailand's digital asset market. Bitget, led by CEO Gracy Chen, views this acquisition as a strategic move to enhance its presence and capabilities in the region, aligning with its broader expansion efforts across Southeast Asia.
While the financial details of the transaction remain undisclosed, GMO has indicated that the sale will have a minor impact on its fiscal results for 2026. The lack of transparency regarding the acquisition price raises questions about the valuation of the deal, leaving observers to speculate on whether Bitget secured a favorable agreement or opted for a quicker entry into the market. The upcoming regulatory decision will be crucial in determining the future of this acquisition and Bitget's strategy in Thailand.
Source: KLEA News