Bitget, a major cryptocurrency trading platform, has disclosed plans to acquire GMO-Z.com Cryptonomics (Thailand) Co., Ltd., a licensed digital asset exchange and brokerage based in Bangkok. The move, announced on October 20, 2026, forms part of the company's efforts to expand its presence across Southeast Asia by securing an established local entity rather than building operations from the ground up.

The transaction will be carried out through BTGT Management (Thailand) Ltd., a company in which Bitget holds an interest. BTGT Management was established on September 22, 2026, with share capital of approximately $59,600. Under the proposed agreement, GMO Internet, Inc. and its subsidiary GMO-Z.com Holdings (Thailand) Co., Ltd., along with other shareholders, will transfer their entire stake in GMO-Z.com Cryptonomics. The sellers together hold a 99.94 percent interest in the target.

Deal Structure and Timeline

Completion of the sale and purchase remains subject to applicable regulatory approvals, including those required for a change of control, as well as other conditions set out in the agreement. GMO Internet previously disclosed the share transfer plans in a September 24, 2026 filing, with a targeted execution date of October 31, 2026. Financial terms of the deal have not been disclosed.

GMO-Z.com Cryptonomics operates Z.com EX, a platform that launched in February 2021. It holds licenses from Thailand's Securities and Exchange Commission to conduct digital asset exchange and brokerage activities. The company has reported narrowing operating losses in recent years, recording a loss of about $2.21 million in 2025, compared with roughly $3.03 million in 2024 and $3.44 million in 2023. Revenue declined from approximately $393,000 in 2024 to $328,000 in 2025. At the end of 2025, it reported total assets of about $13.44 million and net assets of roughly $340,000.

GMO Internet had earlier decided to exit the Thai digital asset business after reviewing the subsidiary's performance and market conditions.

Strategic Rationale and Next Steps

Bitget has stated that the acquisition offers a route to establish a stronger operational footing in Thailand by drawing on the local company's existing business experience and market knowledge. After the transaction closes and the necessary change-of-control approvals are obtained, the company intends to introduce its trading platform to Thai users. Any such rollout would operate in accordance with applicable Thai regulations. No specific launch date has been announced.

Bitget reports serving more than 125 million users worldwide and offering access to a wide range of crypto tokens as well as tokenized stocks, exchange-traded funds, commodities, foreign exchange products and precious metals. The company has previously listed Thailand as a restricted jurisdiction on its international platform, making the licensed local vehicle a key element of any compliant market entry.

The proposed acquisition comes weeks after a security incident on September 24, 2026, in which Bitget estimated that approximately $387.5 million in assets were transferred from portions of its hot and warm wallet infrastructure following exploitation of a third-party vulnerability. The company stated that customer balances were unaffected, cold wallets remained secure, and services were fully restored by early October. Recovery efforts continued. The acquisition announcement did not link the two events.

Thailand requires digital asset exchanges and brokers to obtain approval from its Securities and Exchange Commission. The deal's progress therefore depends on meeting those and related regulatory requirements before Bitget can serve Thai customers through the acquired business.