DV8, a Thai-listed firm, has made significant changes in its ownership and balance sheet, appointing Jason Fang, the founding partner of Sora Ventures, as its new chief executive officer. This move marks a shift towards a corporate Bitcoin treasury and a broader digital asset strategy for the company.
Following an acquisition by a cross-border group including Sora Ventures, UTXO Management, Kliff Capital, AsiaStrategy, Moon Inc., and Mythos Group, DV8 is now poised to implement a Bitcoin-centric playbook for public companies in Southeast Asia. The company also welcomed Thai investor Chatchaval Jiaravanon as chairman and added local executives and crypto operators to its board.
In a recent capital raise through a warrant program, DV8 raised approximately THB 241 million, providing the company with the necessary funds to kickstart its treasury activities and related infrastructure work. Jason Fang, known for structuring listed-company Bitcoin programs in Asia, brings his expertise to DV8 to lead the company in this new direction.
The Sora Ventures ecosystem, led by Fang, has a track record of helping public companies implement balance-sheet Bitcoin strategies tailored to local market rules. With a focus on treasury governance, disclosure cadence, and the sequencing of Bitcoin purchases, DV8 is set to leverage its new ownership structure and fresh capital to drive its Bitcoin-first model forward.
Thailand’s regulatory environment has also become more favorable for corporates exploring digital assets, with recent approvals for personal income tax exemptions on crypto gains and the use of stablecoins in digital asset transactions. These developments provide a solid foundation for DV8 to navigate its treasury accumulation and corporate finance initiatives.
Overall, DV8’s strategic changes, combined with Fang’s appointment and the support of Sora Ventures, position the company as a key player in the regional network of public companies and investors embracing Bitcoin and digital assets. This new direction underscores DV8’s commitment to innovation and growth in the evolving landscape of finance and technology.