Thailand-listed DV8 moves to acquire bitcoin custody firm Rakkar Digital

Thailand-listed DV8 has moved to secure bitcoin through the acquisition of a digital-asset custody firm.

According to Blockhead on the 25th (local time), DV8 signed an agreement to acquire a stake in Rakkar Digital, a custody provider licensed by the Thai Securities and Exchange Commission (SEC).

The deal includes an investment of up to 100 million baht, or about $3.1 million, aimed at meeting regulatory capital requirements.

Rakkar Digital is a joint venture established by SCBX, the holding company of Siam Commercial Bank, and Fireblocks, and as of December 2024 it had about $700 million in assets under custody.

Through the acquisition, DV8 plans to accelerate its bitcoin accumulation strategy. The company set a target of building a total of 10,000 BTC by 2028, with a phased buying plan starting with 1,000 BTC in 2026.

The strategy gained traction after a consortium led by Sora Ventures took control of DV8 in 2025. At the time, a tender offer worth about 241 million baht, or roughly $7.4 million, drew participation from 99.9% of shares, and Sora Ventures' Jason Fang was appointed co-CEO.

The acquisition must undergo final approval by the Thai SEC. Regulators have recently tightened oversight of shareholder structures at digital-asset operators.

Industry watchers also point to the growth of Southeast Asia's crypto market as a backdrop to the strategy. As of mid-2025, on-chain transaction volume in Southeast Asia rose 69% year on year, with demand expanding across Thailand, Vietnam, the Philippines and Indonesia.

The deal is seen as the first case of a Southeast Asia-listed company directly acquiring a licensed digital-asset custody firm.