Bitget targets Thai crypto market with exchange acquisition

• Bitget plans to acquire a licensed Thai crypto exchange to expand its presence in Thailand.
• The proposed deal involves GMO-Z.com Cryptonomics (Thailand) and remains subject to regulatory approval.
• The move follows a reported $387.5 million security incident, placing expansion and platform security in focus.

Bitget plans to acquire GMO-Z.com Cryptonomics (Thailand) through its interest in BTGT Management (Thailand), subject to regulatory approval.

The Bangkok-based target operates a licensed digital asset exchange and brokerage, giving Bitget an existing local operating base.

“Thailand is an important part of Southeast Asia's digital asset landscape,” Bitget CEO Gracy Chen said in a statement.

The acquisition aims to establish local operations as Bitget expands across Southeast Asia’s developing digital financial services markets.

Following completion and approval of the change of control, Bitget intends to introduce its trading platform to Thai users.

The deal involves transferring the existing shareholders’ entire stake in GMO-Z.com Cryptonomics (Thailand) to BTGT Management or its designated entity.

Bitget says its global platform serves more than 125 million users and offers access to over two million crypto tokens.

The proposed acquisition would give Bitget a licensed local operating base in Thailand, subject to regulatory approval and completion conditions.