DV8 Acquires Custodian to Form First Southeast Asian Bitcoin Treasury

Edgen Crypto

·Mar 24 2026, 21:40

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Key Takeaways

Publicly listed Thai company DV8 is acquiring licensed digital asset custodian Rakkar Digital in a strategic pivot to establish Southeast Asia's first Bitcoin treasury company. This move signals growing institutional adoption of digital assets in the region, mirroring corporate treasury strategies popularized in the West.

Strategic Acquisition: On March 24, 2026, DV8 (SET: DV8) signed an agreement to purchase Rakkar Digital, a regulated custodian with over $700 million in assets.
Institutional Foundation: Rakkar Digital was founded by financial heavyweights SCBX (Siam Commercial Bank's parent) and Fireblocks, giving it a strong regulatory and operational framework.
New Corporate Model: DV8 is transforming from a media company into a regulated digital asset infrastructure provider, adopting a Bitcoin treasury model similar to MicroStrategy to drive shareholder value.

DV8 Acquires Custodian Rakkar Digital With $700M in Assets

Thailand's publicly listed DV8 (SET: DV8) signed a Share Purchase Agreement on March 24, 2026, to acquire Rakkar Digital, a licensed digital asset custodian. This acquisition is DV8's first direct entry into regulated digital asset operations and positions it to become the first dedicated Bitcoin treasury company in Southeast Asia.

Rakkar Digital brings significant institutional credibility and scale to the deal, managing over $700 million in assets under custody. The firm was established as a joint venture between SCBX, the parent company of Siam Commercial Bank, and global digital asset infrastructure provider Fireblocks. This strong foundation, backed by early investment from SCB 10X, provides DV8 with a compliant and trusted platform built for institutional clients.

Strategic Pivot Mimics MicroStrategy's Bitcoin Treasury Model

This acquisition marks a decisive strategic pivot for DV8, which is transforming from its origins as a media company into a builder of regulated digital asset infrastructure across Asia. The move follows DV8's September 2025 investment in Bitplanet, a Korean digital asset treasury platform, demonstrating a consistent strategy of acquiring regulated businesses to expand its regional footprint.

The company's approach mirrors the corporate Bitcoin treasury model pioneered by MicroStrategy (MSTR). Under that strategy, a company's primary reserve asset is Bitcoin, with capital markets used to finance ongoing accumulation. By adopting this model, DV8 aims to align its corporate balance sheet and shareholder value with the long-term appreciation of Bitcoin, creating a new investment vehicle for institutional players in the Asian market.