DV8Thailand has entered into a definitive share purchase agreement to take an equity position in Rakkar Digital, an established Thai digital asset custodian. On March 24, 2026, the Bangkok Stock Exchange-listed company announced the move, marking what it described as the region’s first acquisition of a licensed digital asset custody platform by a Bitcoin treasury operation in Southeast Asia.
Acquisition Brings Institutional-Grade Custody To DV8
Rakkar Digital was created through a collaboration between SCBX—the parent of Siam Commercial Bank—and Fireblocks, a global digital asset infrastructure provider. Serving institutional clients, Rakkar Digital secured early support with a $10 million seed investment from SCB 10X in 2022. It holds a digital asset custodian license from the Securities and Exchange Commission of Thailand, reporting more than $700 million in assets under custody as of December 24, 2024. This regulatory and operational background positions Rakkar Digital as a trusted partner for major financial players entering the crypto industry.
DV8Thailand’s Strategic Transformation
The acquisition marks a new chapter in DV8’s strategic push into digital assets. In September 2025, DV8 took its first step by purchasing a stake in Bitplanet, a South Korean digital asset treasury platform. The Rakkar Digital deal follows a similar path, aligning with DV8’s focus on owning regulated, operationally mature businesses in the sector.
DV8’s transformation began in mid-2025 with significant developments. An international shareholder consortium—including Sora Ventures, UTXO Management, Kliff Capital, AsiaStrategy, Moon Inc., and Mythos Group—completed a voluntary tender offer. Shortly after, DV8 raised approximately THB 241 million—about $7.4 million—through a warrant program, targeting new treasury and infrastructure investments. The company’s board was also strengthened that summer, with Thai businessman Chatchaval Jiaravanon appointed as Chairman and additional board members specializing in digital assets joining the leadership team.
Leadership Changes And Regulatory Edge
Leadership shifts at DV8 have set the tone for its renewed direction. In September 2025, Jason Fang, Founding Partner of Sora Ventures, took up the role of Co-Chief Executive Officer, reflecting a clear institutional intent to deepen involvement in the digital asset ecosystem. The management team continued to grow with experienced professionals in both finance and crypto, following a major restructuring of the company’s ownership and balance sheet in August 2025.
DV8Thailand, listed on the Thai stock exchange, is positioning itself as an institutional gateway to digital assets across Asia. The company’s recent initiatives align with the broader regulatory developments led by Thailand’s SEC, which has aimed to clarify rules and enhance oversight of the country’s digital asset sector.
The decision to acquire Rakkar Digital gives DV8 a direct operational foothold in regulated digital asset custody, a critical element for institutional confidence in crypto markets. This acquisition strengthens DV8’s ability to offer compliant storage solutions, addressing a core need for both its own corporate treasury and broader enterprise clients looking for secure crypto management.
In a statement regarding the deal, DV8 emphasized the vital nature of custody within institutional digital asset frameworks, highlighting licensing, regulatory compliance, and robust engagement as key priorities. The firm noted that Rakkar Digital already meets these requirements:
“Custody sits at the core of every credible institutional digital asset platform. Licensing, compliance, and regulatory infrastructure are essential, and Rakkar Digital delivers all three.”
