Crypto exchange Bitget has announced plans to acquire GMO-Z.com Cryptonomics (Thailand), a Bangkok-based licensed digital asset exchange and brokerage. This helps the firm to establish a strong presence in Southeast Asia.
The proposed acquisition would give the crypto exchange access to an existing Thai business rather than require it to build operations from scratch. The move comes less than a month after Bitget suffered a security breach involving approximately $387 million. Could this be the firm’s way back up?
Bitget Expands
Under the proposed agreement, GMO Internet and its related shareholders will transfer their entire stake in GMO-Z.com Cryptonomics (Thailand) to BTGT Management (Thailand) or its designated entity. Bitget says it has an interest in BTGT Management, which is the vehicle involved in the transaction.
The deal is intended to give Bitget a local operating presence and a route towards serving Thai customers through an established business. Once the transaction receives approval and closes, Bitget plans to introduce its trading platform to Thai users.
Recall that Bitget lost approximately $387.5 million on September 24 in a security incident involving unauthorized transfers from some exchange hot wallets. The breach raised questions about the platform’s security. Still, Bitget cleared the air by assuring that customer account balances were unaffected.
On September 30, the exchange deployed part of its Protection Fund, worth $464 million at the time, to cover its losses. This paved the way for gradual reopening of crypto withdrawals.
With Bitget spending so much to recover, expanding its business into more crypto-friendly territories will likely bolster its business.
Thailand and Crypto
Thailand offers Bitget access to a sizeable crypto market. According to local sources, registered investor crypto accounts on licensed digital asset exchanges sat at approximately 3.17 million as of September 2026. Although only around 131,000 accounts were actively trading, exchange-held client assets stood at approximately $2.49 billion. This shows how crypto-savvy Thai investors are.
Average daily trading volume reached $61.66 million in September, increasing approximately 24% from the previous month. USDT dominated trading activity, accounting for over 60% of volume in some periods, followed by Bitcoin and Ethereum.
Individual investors account for about 48% to 50% of domestic trading volume. Younger and digitally connected consumers make up an important part of the market. These figures suggest that despite fluctuations in active participation, Thailand retains a substantial investor base and meaningful demand for digital asset trading.
If the deal receives the necessary approvals, Bitget could strengthen its Southeast Asian presence through the proposed acquisition of GMO-Z.com Cryptonomics.
Jonathan Agozie | October 19, 2026
