Bitget plans to acquire a licensed crypto exchange in Thailand as it expands its presence in Southeast Asia.

The deal involves Bangkok-based GMO-Z.com Cryptonomics, which operates a digital asset exchange and brokerage.

Bitget intends to acquire the company through its interest in Thailand’s BTGT Management.

GMO Internet and its subsidiary GMO-Z.com Holdings will sell their entire stake in the exchange to BTGT Management or its designated buyer alongside other shareholders.

The transaction remains subject to regulatory approval and other closing conditions.

Gracy Chen, CEO of Bitget, said,

“Thailand is an important part of Southeast Asia’s digital…