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GMO Internet to Transfer Thai Digital Asset Subsidiary, Exiting Thailand Crypto Business

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GMO Internet Group's (TYO:9449) consolidated subsidiary GMO Internet has resolved to withdraw from Thailand's digital asset market following a portfolio review and assessment of the environment.

GMO Internet Group holds 49% directly in the Thailand unit, while its consolidated subsidiary GMO-Z.com holds 50.94%.

GMO Internet will transfer all the shares in GMO-Z.com Cryptonomics (Thailand) to BTGT Management (Thailand) at an undisclosed price, according to a Tokyo bourse filing on Thursday.

The share transfer agreement is scheduled for execution on or about Sept. 24, with the effective date expected on Oct. 31.

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