DV8Thailand, a Bangkok-listed firm, has taken a significant step in its institutional digital asset strategy by signing a Share Purchase Agreement to acquire an equity stake in Rakkar Digital, a licensed digital asset custodian. The announcement was made on March 24, 2026.
This acquisition is historic, making DV8Thailand the first Bitcoin treasury company in Southeast Asia to gain access to a licensed digital asset operation. Rakkar Digital holds a digital asset custodian license from Thailand's Securities and Exchange Commission (SEC), providing a crucial regulatory foundation.
Rakkar Digital is a major player in custody, reporting over $700 million in assets under custody as of December 24, 2024. The company was established as a joint venture between SCBX (the parent company of Siam Commercial Bank) and Fireblocks, a global digital asset infrastructure provider. It received early backing from SCB 10X through a $10 million seed investment in 2022.
DV8Thailand views licensed custody as central to any credible institutional digital asset framework. By acquiring Rakkar Digital, DV8 gains immediate access to a platform with established compliance, regulatory engagement, and trust among institutional clients.
This move is part of a broader strategic pivot for DV8Thailand that began in mid-2025. In July 2025, an international investor group including Sora Ventures, UTXO Management, and Kliff Capital completed a voluntary tender offer for the company. This was followed by a warrant program raising approximately THB 241 million (~$7.4 million) for treasury and infrastructure development.
Leadership changes accompanied this shift, with Jason Fang, Founding Partner of Sora Ventures, joining as Co-CEO in September 2025. The company also appointed Thai investor Chatchaval Jiaravanon as Chairman and expanded its board with digital asset specialists.
The Rakkar Digital deal follows DV8's earlier acquisition of a stake in Bitplanet, a Korean digital asset treasury platform, in September 2025. These consistent moves target regulated, operationally sound businesses to build an institutional-grade digital asset business across Asia.
The acquisition strengthens DV8's position in Thailand's growing, SEC-regulated digital asset market and provides a critical custody infrastructure layer to anchor its regional ambitions as institutional interest in digital assets continues to rise.
