Asphere Innovations Public Company Limited (AS) has announced a strategic partnership with Bitkub Capital Group Holdings Company Limited, Thailand's leading blockchain technology and digital assets company.
The collaboration aims to enhance and expand business opportunities for both entities in the future. AS publicly disclosed its acquisition of ordinary shares of Bitkub Online Company Limited, totalling 9.22% of the registered capital, valued at 600 million baht, on June 30, 2023.
Mr. Pramoth Sudjitporn, Chairman of Asphere Innovations Public Company Limited, stated, "Over the past year, our company has transitioned its business strategy from providing online game services in Southeast Asia to becoming a digital technology company. We are actively seeking out new innovations with the potential to shape the future. We recognise the immense value of blockchain technology, also known as Web 3.0, and anticipate its pivotal role in driving future economies. Therefore, we made the strategic investment in Bitkub Online, the leading cryptocurrency and digital token exchange operator in Thailand, holding a market share exceeding 90%. The Bitkub group possesses exceptional expertise and an extensive blockchain and cryptocurrency ecosystem, which will empower Asphere and its affiliated companies to leverage blockchain technology across various sectors. These applications include securing and enhancing transparency in online transaction databases, implementing blockchain in the gaming industry through Play & Earn, developing the Metaverse, and creating decentralised applications to expand our range of services within our current business portfolio. Furthermore, Asphere boasts extensive experience in the Southeast Asian market and a customer base exceeding 180 million IDs, paralleling Bitkub's customer demographic."
Mr. Jirayut Subsrisopha, Founder and CEO of Bitkub Capital Group Holdings Co., Ltd., expressed gratitude towards Asphere Innovations Public Company Limited for recognising the significance of blockchain technology, also known as Web 3.0, in shaping the country's economic infrastructure. He also acknowledged AS's recent purchase of ordinary shares in Bitkub Online Co., Ltd., saying, "Previously, Bitkub Ventures Company Limited, a subsidiary of Bitkub Capital Group, formed a business alliance with Asphere Innovations Public Company Limited through the establishment of a joint venture company, Kubplay Entertainment Company Limited (KUBPLAY). This new collaboration further solidifies the relationship between our two companies. Bitkub gains a valuable strategic partner in Asphere and its affiliates, who specialise in various fields including information technology, gaming, media, and marketing businesses. Most importantly, both companies share a consistent business vision and values. Bitkub and Asphere are dedicated to customer-centric philosophies, which serve as the core of our business operations. This partnership marks a significant milestone, allowing us to jointly develop a comprehensive strategy across all dimensions, thus enabling the Bitkub group to expand into the Southeast Asian market in the future."