NEW YORK — Digital asset platform Bakkt announced Wednesday that it will acquire a 30 percent stake in Marusho Hotta, a Tokyo-listed trading firm, in a move aimed at accelerating Bakkt’s expansion into Asian cryptocurrency markets. Under the terms of the agreement, Bakkt will become Marusho Hotta’s largest shareholder and will assume the rights to rebrand the company as bitcoin.jp, aligning the Japanese entity directly with bitcoin’s global identity.
The transaction, pending regulatory and shareholder approvals, will see Phillip Lord, president of Bakkt International, installed as CEO of the newly named bitcoin.jp. Bakkt has also obtained the bitcoin.jp domain name, signaling its intent to integrate bitcoin services into the Japanese firm’s digital platform and leverage local market networks.
In addition to the investment in Marusho Hotta, Bakkt will pursue strategic partnerships with Japanese financial institutions to deliver regulated bitcoin custody, trading, and payment services. The company plans to launch bitcoin-denominated corporate treasury solutions for Japanese enterprises, mirroring its U.S. treasury product offerings.
Bakkt’s expansion follows its reorientation toward pure-play bitcoin strategies last quarter, when the company divested non-core loyalty business units. Analysts say the move into Asia reflects growing institutional demand for bitcoin exposure outside North America and Europe. Japan’s established financial infrastructure and progressive digital asset regulations make it a key target for global crypto firms.
Separately, Bakkt announced that BitBridge, a bitcoin treasury company, completed a merger with Green Mountain Merger Inc. The combined entity will trade under the ticker BTTL in over-the-counter markets, with plans to uplist to NASDAQ pending regulatory approval. Together, these developments underscore Bakkt’s commitment to building a worldwide bitcoin treasury network spanning multiple jurisdictions.
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