Bakkt Holdings, a U.S.-based crypto platform, is significantly expanding its focus on Bitcoin by acquiring a substantial stake in Japan's Marusho Hotta. This deal will make Bakkt the largest shareholder in the Tokyo Stock Exchange-listed company.
Subject to shareholder approval, Marusho Hotta will undergo a complete transformation, rebranding as bitcoin.jp and integrating digital assets, particularly Bitcoin, into its core investment strategy. As part of this strategic shift, Phillip Lord, Chairman of Bakkt International, is set to become the new CEO of bitcoin.jp.
This move aligns with Bakkt's broader initiative to build a crypto-heavy corporate treasury. The company previously announced plans in June to raise up to $1 billion for digital asset investments, followed by a $75 million IPO in July aimed at funding initial Bitcoin purchases. Despite a slight dip in stock after the IPO announcement, Bakkt's commitment remains clear.
Akshay Naheta, Co-CEO of Bakkt, views Japan as a crucial market for the firm's crypto-first future, citing the country's clear regulatory environment as ideal for long-term expansion. Bakkt intends to collaborate closely with the bitcoin.jp team to integrate Bitcoin across all company operations.
While the financial terms of the acquisition remain confidential, Bakkt's ambition is evident: to establish itself as a leader in institutional crypto adoption, with Japan serving as a foundational step in its global expansion.
August 2025, Cryptoniteuae