Bitget has agreed to acquire GMO-Z.com Cryptonomics (Thailand), a licensed Bangkok-based digital asset exchange and brokerage, from Japan's GMO Internet, giving the Seychelles-registered exchange a regulated route into the Thai market. The deal is being made through BTGT Management (Thailand) Ltd., in which Bitget holds an interest, and remains subject to Thai regulatory approval of the change of control, the company said in its announcement this week.
The transaction was first disclosed by the seller. In a September 24 filing , GMO Internet said it would transfer all 7,349,446 shares in the Thai company, held 49% directly and 50.94% through GMO-Z.com Holdings (Thailand), to BTGT Management, with the transfer expected to take effect on October 31. The filing did not name Bitget. It described the buyer as a company established on September 22 with share capital of THB 2 million, owned 51% by BTGT Investment Holdings and 49% by BTGT Holdings, and set up specifically to acquire the business. Bitget has not said how large its interest in the vehicle is.
GMO said the price was withheld at the buyer's request and that the sale would have a minimal impact on its 2026 results. The disposal completes an exit from Thai digital assets that GMO announced in March, which the filing attributes to "the environment of the digital asset market in Thailand." On GMO's own figures, the unit has not turned a profit in any of the last three years. It booked net sales of THB 11 million in 2025 against a net loss of THB 87.6 million, after losses of THB 100 million in 2024 and THB 115 million in 2023, and ended 2025 with net assets of THB 11.4 million.
What Bitget is paying for, then, is mainly the licence and a functioning local operation. Thailand requires exchanges serving Thai residents to be licensed by its Securities and Exchange Commission, and buying an existing licensee is generally faster than applying from scratch. Bitget said it intends to bring its trading platform to Thai users once the deal closes and the change of control is approved.
"Building a presence in a market requires local expertise, an understanding of the regulatory environment and a long-term commitment to the market," said Bitget CEO Gracy Chen.
The deal follows a major security breach at Bitget. On September 24, the same day GMO's board signed off on the sale, Bitget reported unauthorised transfers from some of its hot wallets, and a day later raised its estimate of assets moved to attacker-controlled addresses to about $387.5 million. The exchange said the losses fall within its User Protection Fund and that customer funds were safe.
GMO's schedule has the share transfer taking effect on October 31, but neither company has said when Thai regulators are expected to rule on the change of control, and Bitget has given no launch date for Thai users.
