Bitget Plans to Acquire a Licensed Trading Platform in Thailand to Accelerate Localization Strategy in Southeast Asia

October 20 - According to Cointelegraph, cryptocurrency trading platform Bitget has announced plans to acquire Thailand's GMO-Z.com Cryptonomics, seeking to expand its footprint in Southeast Asia. The proposed deal involves BTGT Management (Thailand), in which Bitget states it holds an interest. This acquisition will enable Bitget to introduce its trading platform to Thai users.

Gracy Chen, CEO of Bitget, stated: "Thailand is a crucial part of Southeast Asia's digital asset landscape, and this acquisition presents us with an excellent opportunity to establish localized operations in this thriving country."

GMO Internet disclosed the proposed sale to BTGT Management in a filing on September 24, with the goal of completing the transaction by October 31. Bitget's announcement confirmed its involvement in the deal.

The company declined to comment on the specific size of its interest in BTGT Management, as well as the financial and ownership terms of the proposed acquisition.