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Bakkt Acquires 30% of Marusho Hotta, Paves Way for bitcoin.jp Rebrand

Marusho Hotta will rebrand as bitcoin.jp under new CEO Phillip Lord pending shareholder approval

Bakkt expands global bitcoin play with 30% stake in japan’s marusho hotta
Bakkt’s corporate Bitcoin play turns Marusho Hotta into crypto treasury hub
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Bakkt targets japan with marusho hotta deal and domain acquisition

Overview

  • Bakkt signed a deal with RIZAP Group to take a 30% stake in Tokyo-listed Marusho Hotta, becoming its largest shareholder.
  • The acquisition secures the bitcoin.jp domain and sets the stage for a bitcoin-centric corporate identity upon approval.
  • Phillip Lord, president of Bakkt International, is slated to succeed as CEO to lead the newly branded entity.
  • Terms of the transaction remain undisclosed but align with Bakkt’s recent $75 million IPO and its bid to build a crypto-heavy treasury.
  • Co-CEO Akshay Naheta cited Japan’s clear regulatory framework as a key factor in selecting the market for expansion.