Thailand’s Top Company Acquires Omise

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.

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