DV8 Public Company Limited (DV8) is moving forward to expand into the digital asset sector. The company recently announced it has acquired shares of Rakkar Digital Company Limited from the existing shareholders, obtaining up to 100% ownership, which will make Rakkar a new subsidiary of DV8.
DV8 hasnotified the Stock Exchange of Thailandon 24 March that it signed a share purchase agreement to acquire shares in Rakkar. Beyond the acquisition, DV8 also plans to increase Rakkar's capital by up to 100 million baht to serve as working capital for business operations and to comply with capital maintenance requirements for digital asset operators as mandated by the SEC. The funding will come from DV8's internal working capital.
Rakkar Digital operates as a digital asset custodian, acting like a crypto safe deposit box by providing digital asset storage services for corporate and institutional clients. It is a crucial infrastructure business in the crypto market. Rakkar holds a license from the Minister of Finance and is regulated by the SEC. Its current registered capital stands at 175.5 million baht.
In 2025, Rakkar, which counts SCB 10X among its investors, became the second company licensed to operate as a digital asset custodian service provider in Thailand. Previously, in 2024, Orbix Custodian Company Limited from the KBank group was the first to receive such a license.
DV8 is a publicly listed company on the Stock Exchange of Thailand with registered capital of 1.4 billion baht. Its core business includes media services such as advertising production, event organization, and offline and online media production. Over recent years, it has been actively expanding into innovation and technology businesses, particularly in digital assets.
Following the investment in Rakkar, DV8 will appoint three directors to Rakkar's board: Mr. Jason Kin Hoy Fang, Mr. Teng Wei Tan, and Mr. Kittiwut Hotong. The share acquisition and director appointments are subject to approval by the SEC according to relevant regulations.
Source:SET
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