Thailand-based media, advertising, and event management firm DV8 Public Company Limited has announced a strategic acquisition to acquire Rakkar Digital Company Limited to broaden its presence in Thailand’s digital asset services sector.
DV8 has entered into a share purchase agreement to acquire 100 percent of the ordinary shares in Rakkar Digital, a provider of digital asset custodial wallet services licensed under the supervision of the Securities and Exchange Commission (SEC).
The transaction is subject to regulatory approvals and fulfilment of all conditions precedent outlined in the agreement, but upon completion, Rakkar Digital will become a wholly‑owned subsidiary of DV8 Public, DV8 said in a regulatory filing.
According to the filing, DV8 plans to inject up to THB 100 million (about $2.7 million) of new capital into Rakkar Digital.
This funding is intended to support the company’s operations and help it meet the SEC’s net capital requirements for licensed digital asset business operators.
The acquisition and subsequent capital injection will be funded through DV8’s internal working capital.
Once complete, the transaction positions DV8 to expand its service offerings into digital asset custody — a key infrastructure segment as digital finance continues to evolve in Thailand.
Rakkar Digital operates in Thailand’s nascent but fast‑growing digital asset ecosystem, offering custodial wallet services that securely hold and manage clients’ digital assets.
Licensed by the Ministry of Finance and regulated by the SEC, Rakkar’s core competencies align with increasing institutional and retail interest in cryptocurrencies and digital assets.
The investment underscores DV8’s strategy to diversify beyond its existing business lines and capitalize on the expanding demand for regulated digital asset infrastructure in Thailand.
As the Thai market becomes more receptive to digital asset trading, custody, and blockchain‑enabled financial services, ownership of a licensed custodian places DV8 in a potentially advantaged position, said the filing.
The deal will still require approval from the Thai SEC before the company can formally assume control of Rakkar Digital.
Post‑acquisition, the board of directors of Rakkar Digital will consist of three appointees selected by DV8.
The directors named in the filing are Jason Kin Hoi Fang, Theng Wei Tan and Kittiwut Horthong.
These appointments will also be subject to the SEC’s approval, as part of the company’s obligations under Thai digital asset licensing requirements.
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