Bitget Moves to Buy GMO’s Thai Crypto Exchange
Bitget is linked to the buyer of GMO’s Z.com EX operator in Thailand, with the acquisition still awaiting regulatory approval and financial terms undisclosed.
Key Notes
- Bitget is linked to the buyer of GMO’s Thai cryptocurrency exchange operator.
- The acquisition remains subject to regulatory approval and its price is undisclosed.
- GMO’s September filing targeted October 31 for the share transfer.
Bitget has agreed to acquire the operator of Thailand’s Z.com EX cryptocurrency exchange through a local buyer in which it holds an interest, according to Investing.com. The transaction would give the exchange a locally regulated route into the Thai market, subject to approval.
Investing.com reported on October 20 that BTGT Management (Thailand) would buy GMO-Z.com Cryptonomics (Thailand), a Bangkok-based exchange and brokerage. The financial terms were not disclosed, and completion still requires regulatory clearance, including approval for the change of control.
A September sale agreement gains a Bitget connection
GMO had already announced the planned share transfer on September 24. Its disclosure names BTGT Management (Thailand), or an entity it designates at completion, as the buyer. The October report adds Bitget’s connection to that acquisition vehicle and its plans for the business.
The GMO filing covers all shares held by GMO Internet and GMO-Z.com Holdings (Thailand): approximately 99.94% of the operator between them. Their combined 7,349,446 shares would be transferred, leaving both sellers with no stake. That is a sale of the GMO companies’ holdings, rather than a disclosed figure for Bitget’s direct ownership of the buyer.
The same filing set October 31 as the planned transfer date and withheld the purchase price at the buyer’s request. That timetable remains a target, not confirmation that the transaction has closed. GMO described the divestment as part of a review of its business portfolio and the Thai digital-asset market.
A local exchange, with approval still to come
Thailand’s Securities and Exchange Commission lists Z.COMEX under both digital-asset exchanges and brokers. GMO’s original launch announcement dates the Z.com EX trading platform to February 2021.
According to Investing.com, Bitget plans to introduce its platform to Thai users through a locally operated exchange after the deal closes and the necessary approvals are secured. The report does not establish that Bitget’s Thai service is already live or specify its launch-day products and fees.
The acquisition route comes as Thailand develops other supervised channels for crypto exposure. CoinScreamer recently covered the country’s new ETF rules, effective October 16. That framework concerns investment funds; it does not constitute approval of this exchange acquisition or its future trading services.
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