Bitget has agreed to acquire GMO-Z.com Cryptonomics (Thailand), a licensed digital asset exchange and brokerage based in Bangkok, from Japan’s GMO Internet. The transaction would give Bitget a regulated route into Thailand through an existing local licensee, rather than requiring a fresh application.

The deal price was not disclosed. GMO said the amount was withheld at the buyer’s request and added that the sale is expected to have only a minimal impact on its 2026 results.

Structure of the proposed acquisition

The purchase is being carried out through BTGT Management (Thailand) Ltd., a company created specifically for the transaction. According to the disclosed structure, the vehicle was established on September 22 with registered capital of THB 2 million and is owned 51% by BTGT Investment Holdings and 49% by BTGT Holdings.

Bitget said it holds an interest in BTGT Management (Thailand), but it did not disclose the size of that stake. GMO approved the sale two days after the acquisition vehicle was incorporated.

Why the Thai license matters

Thailand requires exchanges serving local residents to hold a license from the country’s Securities and Exchange Commission. For foreign crypto firms seeking entry, buying control of an existing licensed operator is generally a faster route than applying for a new license from the beginning.

GMO-Z.com Cryptonomics already operates as a licensed exchange and brokerage in Bangkok. If the transfer is completed and approved, Bitget said it plans to introduce its trading platform to users in Thailand.

GMO’s rationale for the sale

GMO described the divestment as part of its withdrawal from Thailand’s digital asset market. The Japanese group said it decided to exit because of what it called the challenging environment for digital assets in the country.

The company did not frame the disposal as financially material, saying the transaction should have only a limited effect on its results for 2026.

Timing, approvals and recent backdrop

The share transfer is expected to take effect on October 31, but the transaction still requires Thai regulatory approval for the change of control. No timeline has been announced for that approval process, and no launch date has been given for Bitget’s Thai offering.

The agreement also comes less than a month after Bitget disclosed unauthorized transfers from its hot wallets. Losses from that incident were estimated at about $387.5 million. Bitget said at the time that the losses were within its User Protection Fund and did not put customer funds at risk.

What happens next

The next confirmed step is regulatory review in Thailand. Until Thai authorities approve the change of control, the acquisition cannot fully deliver the local operating foothold Bitget is seeking.

If approval is granted and the transfer closes as expected, Bitget has said it will move ahead with plans to offer its trading platform to Thai users through the acquired licensed entity.

Source: www.blockhead.co