Bakkt to Acquire 30% Stake in Japan’s Marusho Hotta
According to Jinse Finance, crypto infrastructure company Bakkt has announced its acquisition of approximately 30% of Japan’s Marusho Hotta, making it the largest shareholder. Bakkt also plans to rename the company “bitcoin jp” and transform it into a digital asset vault platform centered on Bitcoin. Upon completion of the transaction, Bakkt International President Phillip Lord will become the new company’s CEO. This move is part of Bakkt’s global Bitcoin vault strategy. In June of this year, Bakkt submitted a $1 billion financing plan and completed a $75 million fundraising round in July to acquire Bitcoin and other assets. The transaction and name change are still subject to shareholder approval.
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