DV8Thailand has moved deeper into regulated digital asset infrastructure through its acquisition of Rakkar Digital, giving the listed company a direct operating position in Thailand’s licensed crypto custody market. Rakkar Digital was established through a collaboration between SCBX, the parent of Siam Commercial Bank, and digital asset infrastructure firm Fireblocks, with its services built for institutional clients.
Rakkar Brings a Licensed Custody Operation
Rakkar Digital entered the market with early backing from SCB 10X, which provided a $10 million seed investment in 2022. The company holds a digital asset custodian license from Thailand’s Securities and Exchange Commission. As of Dec. 24, 2024, it reported more than $700 million in assets under custody. That combination of licensing, institutional focus, and operating history gives DV8 an established platform rather than a greenfield buildout.
DV8’s Digital Asset Push Accelerated in 2025
The deal follows DV8’s earlier move in September 2025, when it bought a stake in Bitplanet, a South Korean digital asset treasury platform. Taken together, the two transactions show a clear preference for acquiring regulated and operationally mature businesses connected to the digital asset sector.
DV8’s shift began in mid-2025. An international shareholder consortium that included Sora Ventures, UTXO Management, Kliff Capital, AsiaStrategy, Moon Inc., and Mythos Group completed a voluntary tender offer. Soon after that, DV8 raised about THB 241 million, or roughly $7.4 million, through a warrant program aimed at new treasury and infrastructure investments.
Leadership Changes Support the New Direction
The company also reshaped its leadership. Thai businessman Chatchaval Jiaravanon was appointed Chairman, and additional board members with digital asset expertise joined the leadership team. In September 2025, Jason Fang, Founding Partner of Sora Ventures, became Co-Chief Executive Officer. Those appointments followed a major restructuring of DV8’s ownership and balance sheet in August 2025.
DV8, which is listed on the Thai stock exchange, is positioning itself as an institutional access point to digital assets across Asia. In comments on the transaction, the company said custody sits at the center of any credible institutional digital asset platform, and pointed to licensing, compliance, and regulatory infrastructure as core requirements. By acquiring Rakkar Digital, DV8 gains those capabilities in-house while adding a compliant custody operation that can support both its own treasury activity and enterprise clients seeking secure crypto asset management.