DV8 Appoints Jiaravanon as Chairman for Bitcoin DeFi Pivot

DV8 Public Company Limited, a publicly listed firm in Thailand, has announced a significant leadership change as part of its strategic pivot into Bitcoin and decentralized finance (DeFi) banking. The company has appointed Chatchaval Jiaravanon as its new Chairman. Jiaravanon, known internationally for acquiring Fortune Magazine in 2018, is a prominent figure in Thailand's business landscape and a member of the influential Charoen Pokphand Group family.

This leadership change is part of a broader revamp at DV8 aimed at aligning the company with emerging crypto-native financial models. Under Jiaravanon's guidance, DV8 plans to adopt Bitcoin-centric treasury practices and invest in DeFi, corporate governance innovation, and next-generation digital infrastructure. The firm also aims to build a crypto-integrated digital banking system that supports long-term financial inclusion and innovation across Southeast Asia.

The new board, led by Jiaravanon, includes key figures from traditional finance and the Web3 ecosystem. Members such as Vichate Tantiwanich, Natavudh Pungcharoenpong, John Riggins, Samuel Coyn Mateer, Henry Elder, and Jason Fang bring a combination of deep local business knowledge and international experience in crypto asset management and blockchain development. This diverse expertise positions DV8 to become a major player in digital asset strategy and crypto-financial infrastructure.

Jiaravanon's relevant experience includes his blockchain startup Lightnet, launched in 2020 to provide low-cost remittance services for underbanked migrant communities in Southeast Asia using distributed ledger technology. This background aligns well with DV8's new direction and its ambitions in the crypto space.

The leadership changes follow DV8’s recent acquisition by a strategic consortium that includes several prominent crypto investment groups. The investors, who have agreed to a 12-month lock-up period, include UTXO Management, Kliff Capital, Moon Inc., AsiaStrategy, and Mythos Group. This move is seen as a strong vote of confidence in DV8’s new direction and the broader Thai crypto market.

Jason Fang, founder of Sora Ventures, expressed enthusiasm about Thailand’s potential in the crypto and DeFi space, stating that Thailand had once been a significant player in DeFi and that the new developments would unlock its potential. This optimism reflects the broader sentiment among market observers who see Thailand as a region with untapped potential in the crypto industry.