Bitget identifies its role in planned purchase of GMO’s Thai crypto exchange

Bitget has disclosed its participation in the planned acquisition of GMO-Z.com Cryptonomics (Thailand), giving the exchange a potential local operating base in Thailand. The 20 October announcement identifies Bitget’s interest in BTGT Management (Thailand), the buyer or nominating entity for the transaction. Completion remains subject to regulatory approval and other conditions.[1]

GMO’s 24 September filing had already identified BTGT and scheduled the share transfer for 31 October. It covers 7,349,446 shares held by GMO Internet and its Thai holding company, representing their direct 49% and indirect 50.94% interests. The purchase price was withheld at the buyer’s request.[2]

The Thai SEC’s operator register lists the target, branded Z.COMEX, under both digital-asset exchanges and digital-asset brokers. The purchase would give Bitget access to a local intermediary with named permissions and an established Thai operating history.[3][1]

A local platform with an operating deficit

The seller’s filing shows why the deal involves more than obtaining a market presence. The target’s operating loss narrowed in 2025, while revenue also declined.[2]

GMO attributes its withdrawal to a portfolio review and the Thai digital-asset market environment. The disclosed losses mean Bitget would be acquiring an operation requiring stronger economics, rather than an already profitable business. Without a disclosed price, a purchase multiple cannot be calculated.[2]

Bitget’s stated rationale is to combine local market experience with its international resources and technology. The proposed ownership change could provide a platform for that work, but customer-facing services will be determined by the Thai operation’s permissions and subsequent rollout decisions. The announcement gives no customer migration timetable or new Thai product schedule.[1][3]

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