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Bakkt Expands Global Bitcoin Play With 30% Stake in Japan’s Marusho Hotta
Bakkt is acquiring a 30% stake in Japanese firm Marusho Hotta and is expanding into Asian crypto markets.
Aug 6, 2025, 3:32 p.m.
What to know:
- Bakkt is acquiring a 30% stake in Japan’s Marusho Hotta, becoming its largest shareholder and signaling a strategic expansion into Asian crypto markets.
- The company will be rebranded as bitcoin.jp, with Bakkt International President Phillip Lord taking over as CEO and integrating BTC into its corporate treasury
- Bitcoin treasury company BitBridge completed its merger with Green Mountain Merger Inc.
Amid a sea of new crypto treasury companies popping up, Bakkt and BitBridge are in the news today, after they both provided updates on their bitcoin treasury strategies.
Bakkt (BKKT), the technology firm that went all-in on crypto, has signed a deal to acquire nearly one-third of Japanese trading company Marusho Hotta (8105), in a move that could signal a broader international bitcoin strategy for the U.S.-based digital asset platform, the company said in a press release Wednesday.
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Under the agreement with RIZAP Group Inc., Bakkt will acquire roughly 30% of the Tokyo-listed company, positioning itself as Marusho Hotta’s largest shareholder.
Pending shareholder approval, Marusho Hotta will be renamed bitcoin.jp, aligning its brand with its new bitcoin-centric direction, the company said. Bakkt has also secured the domain bitcoin.jp as part of the deal.
In a strategic leadership shift, Phillip Lord, President of Bakkt International, will take over as CEO of Marusho Hotta.
Meanwhile, bitcoin treasury firm BitBridge Capital Strategies has completed its merger with Green Mountain Merger Inc., the company said in a press release yesterday.
The company will start trading under the ticker symbol BTTL on the over-the-counter (OTC) markets by the end of the third quarter, with plans to uplist to NASDAQ thereafter.
Read more: Bakkt Sells Loyalty Business and Pivots to Pure-Play Crypto, Offers Shares
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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A16z Crypto to Open Seoul Office, Hire Sungmo Park to Lead Asia Efforts
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