Bitget plans Thai crypto exchange acquisition weeks after $388M hack

The proposed acquisition would give Bitget a route into Thailand’s crypto market through a locally licensed operator.

Crypto exchange Bitget has announced plans to acquire Thailand’s GMO-Z.com Cryptonomics, seeking to expand its Southeast Asia footprint weeks after a major hack impacting its hot and warm wallets. 

The proposed transaction involves BTGT Management (Thailand), a company in which Bitget says it holds an interest, according to an announcement shared with Cointelegraph.  The acquisition will allow Bitget to introduce its trading platform to Thai users.

“Thailand is an important part of Southeast Asia’s digital asset landscape, and this acquisition gives us a great opportunity to establish local operations in a thriving country,” said Bitget CEO Gracy Chen.

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