Bitget Reveals It Is Behind the Buyer of GMO Internet’s Licensed Thai Crypto Exchange

Crypto exchange Bitget said on Oct. 20 that it plans to acquire GMO-Z.com Cryptonomics (Thailand) , a licensed Bangkok exchange and brokerage owned by Japan’s GMO Internet , and use it to offer its trading platform to users in Thailand. Bitget said it is making the purchase through its interest in BTGT Management (Thailand) Ltd. , which will take over the shares. GMO Internet’s board approved selling the exchange to BTGT on Sept. 24, but that disclosure did not mention Bitget. GMO said in the filing that BTGT was “newly established for the purpose of acquiring the business in question” and listed its establishment date as Sept. 22, with share capital of 2 million Thai baht. Bitget has not said how large its stake in BTGT is.

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