The largest private Thailand-based company, Charoen Pokphand Group (CP Group), has acquired cryptocurrency company Omise for more than $150 million, Yahoo News reports.
CP Group is backed by the Chearavanont family, which was ranked by Forbes as one of the largest Asia’s families.
Omise is Thailand’s top crypto-focused payment company. It also operates the Ethereum-based OmiseGO (OMG) network.
Lex Sokolin, a partner at Autonomous Research, says execution "is really tough" and OmiseGo will need the target customer to have phones that can easily accept and send crypto, and for that currency to be used in commerce.
Last year, OmiseGo and Blockchain protocol Mass Vehicle Ledger (MVL) announced they will jointly explore Blockchain technologies. MVL is the protocol of the popular Singapore ride-hailing app TADA.
Update: Jun Hasegawa, the Founder of Omise, said Omise had not been acquired "by any company."
In an interview with Cointelegraph, Jun also said that Omise is considering undertaking legal action against the outlet if The Block doesn’t respond by March 30 and comply with the requests.
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