Bakkt took a major step into the Japanese market by signing a deal to buy nearly 30% of Marusho Hotta. The seller, RIZAP, agreed to part with the shares as Bakkt prepares to give the company a new look and name, bitcoin.jp, reflecting its Bitcoin-focused strategy.
The move comes with approval from shareholders of Marusho Hotta. Bakkt is set to add a digital asset treasury to the company’s main structure. Bitcoin will be added to the firm’s balance sheet soon. This move indicates Bakkt’s long-term attention towards growing Bitcoin applications in corporate finance.
Bitcoin push drives Bakkt’s takeover of Marusho Hotta
Once the deal closes, Bakkt will become the largest shareholder in Marusho Hotta. Phillip Lord, who leads Bakkt International, will take the role of CEO at the Japanese company. This move signals a strong intent to embed Bitcoin into its strategy from the top.
It follows Bakkt’s recent funding activities. Last month, the company raised $75 million in equity funding. That was a follow-through of a $1 billion shelf offering it registered in June. Bakkt now utilizes these funds in establishing an overseas presence and fulfilling its mission of being Bitcoin-centric.
The new path for Marusho Hotta begins with a new identity. Bakkt has already registered the domain bitcoin.jp to back the rebrand. This site will serve essentially as the online face of the company as it takes a crypto-first stance.
Bakkt sees Japan as key to global Bitcoin growth
Japan’s open approach to digital assets played a big role in the decision. Bakkt believes the country’s clear regulations provide a stable ground for long-term crypto growth. That confidence drives its push to make Marusho Hotta a model of Bitcoin-based finance in Asia.
Bakkt established its digital asset infrastructure mission in 2018. It focuses on targeting institutional investors along with companies seeking entry into the crypto market. Its platforms enable clients to interact with crypto using trading, custody solutions, and other offerings.
Bakkt chose to place its headquarters in Alpharetta, Georgia, but its latest actions show global ambitions. This new investment gives the firm a major presence in Japan and a new way to expand Bitcoin use worldwide. With a focus on turning balance sheets into Bitcoin treasuries, Bakkt continues to push for deeper ties between crypto and corporate strategy.
