Bakkt Acquires Stake in Marusho Hotta, Rebrands as “bitcoin.jp” for Crypto Treasury Shift

The post Bakkt Acquires Stake in Marusho Hotta, Rebrands as “bitcoin.jp” for Crypto Treasury Shift appeared first on Coinpedia Fintech News

Bakkt Holdings will acquire a 30% stake in Japanese yarn maker Marusho Hotta for $115 million as part of a major strategic pivot. The company will be rebranded as “bitcoin.jp” and shift its focus from textiles to a crypto treasury business centered on Bitcoin and digital assets. With Bakkt’s Phillip Lord set to become CEO, the newly named entity aims to leverage Japan’s crypto-friendly regulations and emerge as a corporate leader in Bitcoin-based treasury management.