At a glance

  • Bitget plans to acquire GMO-Z.com Cryptonomics (Thailand), a licensed Bangkok exchange and broker, via BTGT Management (Thailand), a company in which it holds an interest, Bitget said on Tuesday. The price was not disclosed.
  • GMO Internet’s filing to the Tokyo Stock Exchange in September put the expected transfer date at 31 Oct. Bitget says completion still needs regulatory approval, including for the change of control.

Bitget said GMO Internet, its Thai holding company and other shareholders will transfer their entire stake in the exchange to BTGT Management and/or a designated entity at completion.

GMO’s 24 Sep disclosure shows the buyer was set up on 22 Sep and is owned 51% by BTGT Investment Holdings and 49% by BTGT Holdings. The sale price is undisclosed “at the request of the buyer”, GMO said, adding that it reflects market pricing.

“Building a presence in a market requires local expertise, an understanding of the regulatory environment and a long-term commitment to the market,” Bitget chief executive Gracy Chen said in the release.

A loss-making unit

GMO first said in March 2026 that it would withdraw from Thailand’s digital-asset business, citing the local market environment, according to the filing.

The Thai unit had net sales of THB 11.0 million (about $329,000 or €293,000) in 2025 and an operating loss of THB 74.2 million (about $2.2 million or €2.0 million), GMO said. Conversions use ECB reference rates for 19 Oct.

Thailand requires crypto exchanges to be licensed by its Securities and Exchange Commission (SEC). Once the deal closes and approvals are in hand, Bitget said, it intends to bring its trading platform to Thai customers via a locally run exchange.

Context

The deal comes after the Bitget’s 24 Sep hot-wallet theft of roughly $388 million. Bitget reopened all withdrawals by 2 Oct, as CryptoWatchDesk reported in Bitget’s final withdrawal reopening.

Thailand’s SEC has been busy this month too: its crypto ETF rulebook took effect on 16 Oct. Elsewhere in the region, see Kazakhstan’s court order against six unlicensed platforms.

What’s next

GMO said it expects the deal to have a minimal effect on its 2026 results. The next step is Thai regulatory approval of the change of control; neither company has said when that is expected.

This article is for information only and is not investment advice.