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Bakkt to Acquire 30% of Marusho Hotta, Rebranding It as bitcoin.jp

Phillip Lord will lead bitcoin.jp in integrating Bitcoin into its treasury strategy as part of Bakkt’s global crypto expansion.

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 has agreed to buy roughly 30% of Tokyo‐listed Marusho Hotta from RIZAP Group, making it the firm’s largest shareholder.
  • Subject to shareholder approval, Marusho Hotta will be renamed bitcoin.jp and Bakkt has secured the corresponding domain.
  • Phillip Lord, president of Bakkt International, is set to become CEO of the newly rebranded bitcoin.jp.
  • The deal underscores Bakkt’s shift from providing crypto infrastructure to operating a corporate Bitcoin treasury vehicle.
  • Financial terms of the acquisition remain undisclosed amid Bakkt’s recent $75 million IPO and $1 billion shelf offering following a 2024 SEC going‐concern warning.