Bakkt Targets Japan With Marusho Hotta Deal and Domain Acquisition

robot
Abstract generation in progress

Bakkt Holdings Inc. (NYSE: BKKT) announced Wednesday it will acquire roughly 30% of Tokyo-listed MarushoHotta Co., Ltd. (TSE: 8105), becoming the company’s largest shareholder and advancing its multinational bitcoin treasury strategy.

Bakkt Expands Into Japan

The share purchase agreement with RIZAP Group Inc. positions Bakkt to influence MHT’s direction, with Phillip Lord, president of Bakkt International, set to become MHT’s chief executive officer. The deal includes plans for MHT to integrate bitcoin (BTC) and other digital assets into its treasury holdings, aligning with Bakkt’s expanded focus on crypto infrastructure.

As part of the transaction, Bakkt has acquired the web domain www.bitcoin.jp, which is expected to become MHT’s new name pending shareholder approval. According to the announcement, the rebranding would mark a significant shift in MHT’s corporate identity toward a bitcoin-centered model.

Akshay Naheta, Bakkt’s co-CEO, said Japan’s regulatory climate offers a strong foundation for such an initiative. “Japan’s regulatory environment creates an ideal platform for a bitcoin-centered growth business,” Naheta said. “We look forward to working with MHT’s team to integrate bitcoin into their operating and financial model and to establish MHT as a leading bitcoin treasury company.”

The acquisition comes less than two weeks after Bakkt revealed a $75 million public offering to fund bitcoin purchases and expand its digital asset operations. The latest move signals the company’s intention to build an international network of bitcoin treasury entities, beginning in Japan.

BTC0.93%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)