Asphere Innovations (AS) Expands Presence in Blockchain and Crypto Market with Acquisition of Bitkub Online

DATE : June 30, 2023

Bangkok, June 30, 2023 – Asphere Innovations Public Company Limited (“Asphere Innovations”) is pleased to announce the successful approval of its acquisition of ordinary shares in Bitkub Online Company Limited (“Bitkub Online”). During the Board of Directors’ meeting on June 30, 2023, it was decided that Asphere Innovations would purchase 4,149,000 shares, representing 9.22% of the registered capital, from Bitkub Capital Group Holdings Co., Ltd. The total investment for this strategic transaction amounts to Baht 600,000,000, with the anticipated completion of the acquisition set for July 31, 2023.

Mr. Pramoth Sudjitporn, Chairman of the Board of Asphere Innovations, expressed the company’s vision, stating, “We recognize the tremendous business opportunities that arise from blockchain technology, commonly referred to as Web 3.0, which is set to play a vital role in the future. Therefore, we are excited to acquire shares in Bitkub Online, Thailand’s leading cryptocurrency and digital assets exchange, boasting a market share of over 90%. With their extensive expertise and comprehensive blockchain and cryptocurrency ecosystem, Bitkub Online will enhance and strengthen our business and enable us to become a prominent player in the digital technology service provider industry.”

In addition, in 2022, Asphere Innovations partnered with Bitkub Ventures Company Limited to establish Kubplay Entertainment Company Limited. This collaboration aims to develop and deliver a cutting-edge Hybrid Web 3.0 Gaming Platform. The investment in Bitkub Online further solidifies the bond between the two companies, fostering expanded cooperation, knowledge exchange, and technological advancements within Asphere Innovations’ core business and its wider group of companies. This includes harnessing the potential of blockchain technology to enhance security and transparency for online transactions, as well as the development of decentralized applications (dApps) to introduce innovative services across the group’s existing operations.