With a sea of new cryptocurrency companies emerging, Bakkt and Bitbridge are in the news today after providing an update on their Bitcoin financial strategy.
Crypto-all-in technology company Bakkt (BKKT), has signed a deal to acquire almost a third of Japanese trading company Marusho Hotta (8105), in a move that could indicate a broader international Bitcoin.
Under an agreement with Rizap Group Inc., Bakkt will acquire approximately 30% of the Tokyo-listed company, establishing its position as Marusho Hotta’s largest shareholder.
The pending shareholder approval will be renamed Marusho Hotta to Bitcoin.jp and rebranded to match the brand new Bitcoin-centric orientation, the company said. Bakkt has also secured the domain Bitcoin.jp as part of its transaction.
In a strategic leadership shift, Phillip Lord, president of Bakkt International, will take over as CEO of Marusho Hotta.
Meanwhile, Bitcoin Treasury Firm Bitbridge Capital Strategies has completed its merger with Green Mountain Merger Inc., the company said in a press release yesterday.
The company plans to begin trading under the ticker symbol BTTL (OTC) market by the end of the third quarter and then to be uplisted on NASDAQ.
read more: Bakkt sells loyalty business, sells pivots to pure play code, and offers stocks
