The U.S.-based crypto platform has struck a deal to acquire nearly one-third of Japan’s Marusho Hotta, becoming its largest shareholder in the process.
Pending shareholder approval, the Tokyo Stock Exchange-listed company will undergo a full crypto makeover—rebranding as bitcoin.jp and adopting digital assets like Bitcoin as part of its official investment strategy. Alongside the changes, Bakkt International Chairman Phillip Lord is set to take the helm as CEO.
This acquisition fits into Bakkt’s broader pivot toward building a crypto-heavy corporate treasury. In June, the firm announced plans to raise up to $1 billion for digital asset investments. A follow-up $75 million IPO in July was intended to fuel initial Bitcoin purchases, though the stock dipped following the announcement.
Co-CEO Akshay Naheta sees Japan as a key part of the firm’s crypto-first future, calling the country’s regulatory clarity ideal for long-term expansion. Bakkt now plans to work with the bitcoin.jp team to integrate Bitcoin across company operations.
While the deal’s financial terms remain undisclosed, its ambitions are clear: Bakkt is positioning itself to become a leader in institutional crypto adoption—and Japan is just the beginning.
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