Bitget plans to buy licensed Thai exchange GMO-Z.com

Bitget announced on October 20, 2026, that it intends to acquire GMO-Z.com Cryptonomics (Thailand) Co., Ltd., a Thai digital asset exchange that already holds a local license, according to Cryptobriefing. The transaction is structured through Bitget’s investment in BTGT Management (Thailand) Ltd., the vehicle set to receive the shares from GMO Internet Group.

The move gives Bitget a licensed operating foothold in Thailand rather than requiring it to build a regulated exchange from scratch. Completion is targeted for October 31, 2026, but remains subject to regulatory approvals, so the date is a target rather than a closed deal.

Key facts

• GMO Internet resolved on September 24, 2026, to transfer 100% of its shares in GMO-Z.com Cryptonomics (Thailand) to BTGT Management, with completion scheduled by October 31, 2026.
• Before the transfer, the voting rights figure attached to the Thai entity stood at 99.94%; control would pass to the Bitget-backed vehicle if regulators approve.
• Bitget did not disclose the transfer price, and the company declined to comment on how much interest it holds in BTGT Management or on the financial and ownership terms, Cointelegraph reported.
• GMO-Z.com Cryptonomics operates Z.com EX, which launched in February 2021 and is listed by Thailand’s Securities and Exchange Commission among licensed digital asset exchange operators, per Cointelegraph.
• GMO said the transaction should have only a minor financial impact on its fiscal 2026 results.

Why GMO is exiting Thailand

GMO’s retreat follows a short stay. The group had repositioned itself by acquiring the Thai operations in 2025, and by March 2026 it signaled intentions to withdraw from the Thai market. That led to the September 2026 decision to transfer the shares. GMO pointed to conditions in Thailand’s digital asset market as a reason for leaving.

Bitget, led by CEO Gracy Chen, has framed the deal as a strategic opportunity. In comments reported by Cointelegraph, Chen said Thailand is an important part of Southeast Asia’s digital asset landscape and that the acquisition gives the exchange an opportunity to establish local operations in the country. The company said it wants to strengthen its local operating presence and build out its market capabilities in Thailand once approvals come through.

The hack backdrop and licensing route

The acquisition announcement comes weeks after a September 24 attack on Bitget’s hot and warm wallet infrastructure. Bitget said approximately $388 million was affected after attackers exploited a vulnerability in a third-party security product and issued fraudulent withdrawal commands. The exchange said customer account balances were unaffected and completed the phased restoration of withdrawals on October 2. On October 17, Bitget also announced plans to discontinue services for certain users, describing the move as a “one-off exercise.”

Access to Thailand is otherwise restricted for Bitget. Its terms of use, updated October 16, list Thailand among prohibited jurisdictions, alongside Russia, Belarus and Kazakhstan, according to Cointelegraph. The proposed acquisition could provide a route to serving the Thai market through a locally licensed operator.

The two reports align on the core structure: GMO’s September 24 filing, the BTGT Management recipient and the October 31 target date. Cointelegraph adds the hack chronology and the terms-of-use detail.

Why it matters

The deal would convert Bitget’s Thai ambitions from an application process into a share transfer, provided regulators sign off. That matters for Thai users, who could gain access to Bitget’s platform through an already licensed exchange, and for GMO, which is stepping back from a market it entered in 2025. For Bitget, the purchase complements a wider push across Southeast Asia and follows a costly security incident that put operational resilience in focus.

What to watch

The first marker is whether Thai authorities approve the share transfer on schedule by October 31, 2026. After that, watch how Bitget rebrands or restructures the Thai exchange once it takes control, and whether similar licensed acquisitions become a template for its regional expansion.

This article is for informational purposes only and is not financial advice. Cryptocurrency markets are volatile and uncertain.

Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.

Sources: Crypto Briefing, Cointelegraph