Thailand’s DV8 becomes the first bitcoin treasury company in Southeast Asia with a digital asset license

Bangkok, Thailand March 24, 2026

DV8 (SET: DV8) has entered a Share Purchase Agreement to acquire Rakkar Digital, a digital asset custodian licensed by the SEC in Thailand. The transaction marks DV8's first direct entry into regulated digital asset operations and reflects the company's strategic shift toward building institutional-grade financial infrastructure across Asia.

Rakkar Digital holds a digital asset custodian license issued by Thailand's Securities and Exchange Commission and has over US$700 million in assets under custody as of December 24, 2024. The business was established as a joint venture between SCBX, the parent company of Siam Commercial Bank, and Fireblocks, a global digital asset infrastructure provider. SCB 10X provided early institutional backing through a US$10 million seed investment in 2022. These foundations, specifically the regulatory standing, institutional backing, and infrastructure-grade operations, were central to DV8's evaluation.

Custody sits at the foundation of any institutional-grade digital asset framework. It requires licensing, compliance, security expertise, operational resilience, and sustained regulatory engagement. By acquiring Rakkar Digital, DV8 gains a platform already operating at that standard, which is trusted by various institutional clients.

This acquisition follows DV8's September 2025 investment in Bitplanet, a Korean digital asset treasury platform. Taken together, these transactions reflect a consistent capital allocation approach: identifying regulated, operationally robust businesses that strengthen DV8's position in the digital asset ecosystem.

Strategic Milestones: DV8's Transformation Since Mid-2025

July 2025: An international investor group, including Sora Ventures, UTXO Management, Kliff Capital, AsiaStrategy, Moon Inc., and Mythos Group, completed a voluntary tender offer for DV8, establishing the foundation for an ambitious digital asset strategy within publicly traded companies.

July 2025: DV8 completed a warrant program, raising approximately THB 241 million (approximately US$7.4 million) to support treasury activity and infrastructure development.

July 2025: Thai investor Chatchaval Jiaravanon was appointed Chairman. The board was expanded with local executives and digital asset leaders, strengthening governance and operational expertise.

August 2025: DV8 completed a significant restructuring of its ownership and balance sheet, aligning the company's capital structure with its longer-term digital asset strategy.

September 2025: Jason Fang, Founding Partner of Sora Ventures, was appointed Co-Chief Executive Officer.

September 2025: DV8 made its first strategic investment under the new direction, acquiring a stake in Bitplanet, a Korean digital asset treasury platform.

March 24, 2026: DV8 enters into the Share Purchase Agreement to acquire Rakkar Digital, its first entry into licensed custody infrastructure.

About DV8

DV8 (SET: DV8) is a publicly listed company on the Stock Exchange of Thailand. Originally established as a media business, DV8 is executing a strategic transformation toward regulated digital asset infrastructure across Asia. The company is building a portfolio of institutional-grade businesses across the digital asset value chain, with a focus on custody, treasury, and financial services infrastructure. The acquisition of Rakkar Digital represents DV8's first direct move into licensed digital asset operations, reflecting the company's long-term commitment to operating within compliant, governed frameworks across Asian capital markets. DV8 is backed by Sora Ventures, a global digital asset investment firm that strategically invests in and operates publicly traded companies across Asia.

About Rakkar Digital

Rakkar Digital is a licensed digital asset custodian headquartered in Thailand, holding a custodian license issued by the Securities and Exchange Commission of Thailand. Established as a joint venture between SCBX and Fireblocks, Rakkar Digital operates as an institutional-grade custody platform with over US$700 million in assets under custody as of December 24, 2024. The company provides secure, compliant custody infrastructure to institutional clients across the region.