Investing.com -- Cryptocurrency exchange Bitget has agreed to acquire GMO-Z.com Cryptonomics (Thailand), a licensed Bangkok-based digital asset exchange and brokerage, giving it a regulated foothold in the Thai market, Investing.com has learned.

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Under the deal, Japan's GMO Internet and its subsidiary GMO-Z.com Holdings (Thailand), among other holders, will sell their entire stake in the business to BTGT Management (Thailand), an entity in which Bitget holds an interest.

Financial terms were not disclosed. Completion is subject to regulatory approval, including for the change of control.

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Once the deal closes and approvals are secured, Bitget plans to bring its trading platform to Thai users through a locally operated exchange.

Thailand requires digital asset exchanges to be licensed by its Securities and Exchange Commission and last year moved to block access to several unlicensed foreign platforms.

According to information seen by Investing.com, Bitget continues to evaluate expansion opportunities across Southeast Asia.

The exchange is said to serve more than 125 million users and offers trading in crypto tokens alongside tokenized stocks, ETFs, commodities and foreign exchange.

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