Bakkt is making a bold move overseas, acquiring a significant stake in a Japanese company as part of its expanding international bitcoin push. The crypto platform based in the United States has formed a strategic alliance with Marusho Hotta to capitalize on Asia’s digital asset potential.
Meanwhile, BitBridge Capital is making headlines of its own, having taken a significant step toward a public listing. Both firms are aiming to reshape the future of bitcoin treasuries.
Bakkt, one of the best digital asset platforms in the US, has made a big move into the international market by buying 30% of Japan’s Marusho Hotta. This strategic agreement is a big step forward for Bakkt’s plan to grow its bitcoin business around the world as Asia becomes a major player in crypto adoption.
Bakkt will become the largest shareholder in Marusho Hotta, which is listed in Tokyo, thanks to a deal with RIZAP Group Inc. Once the company’s shareholders give their approval, it will change its name to bitcoin.jp. This will show that it is switching to a business model that is only about bitcoin.
Not only does Bakkt invest, but it also runs the show. When the transition is over, Phillip Lord, who is now the President of Bakkt International, will be the CEO of Marusho Hotta. The new domain bitcoin.jp will also be part of the rebranding. This is meant to make it clearer that the company is focused on crypto in Japan.
Why does Bakkt want to put money into Japan?
Japan has one of the most advanced cryptocurrency markets in the world. Bakkt’s investment in Marusho Hotta gives the company a foothold in a place with smart rules and a strong digital asset community. The move could make it possible for a more complete bitcoin treasury strategy to be used in all of Asia.
What will be different about Marusho Hotta?
The change to bitcoin.jp is more than just a new look; it shows that the company is fully committed to digital assets. Marusho Hotta is ready to play a big role in Japan’s crypto ecosystem now that Bakkt is in charge and Phillip Lord is the CEO.
What’s next for BitBridge Capital?
This week, BitBridge Capital Strategies also made the news. The Bitcoin treasury company is now one with Green Mountain Merger Inc. The new company will trade over-the-counter with the ticker BTTL before trying to get listed on NASDAQ.
The digital asset world is entering a new era, as shown by moves like Bakkt and BitBridge. Crypto treasury companies are growing all over the world. In this new era, “international growth” and “mainstream adoption” are no longer just buzzwords; they are real plans for how to run a business.
Also read: BitMine Becomes Largest ETH Holder With $2.9B Bet, Here’s Why Investors Are Paying Attention
