1 week ago
Amid a oversea of caller crypto treasury companies popping up, Bakkt and BitBridge are successful the quality today, aft they some provided updates connected their bitcoin treasury strategies.
Bakkt (BKKT), the exertion steadfast that went all-in connected crypto, has signed a woody to get astir one-third of Japanese trading institution Marusho Hotta (8105), successful a determination that could awesome a broader planetary bitcoin (BTC) strategy for the U.S.-based integer plus platform, the institution said successful a press release Wednesday.
Under the statement with RIZAP Group Inc., Bakkt volition get astir 30% of the Tokyo-listed company, positioning itself arsenic Marusho Hotta’s largest shareholder.
Pending shareholder approval, Marusho Hotta volition beryllium renamed bitcoin.jp, aligning its marque with its caller bitcoin-centric direction, the institution said. Bakkt has besides secured the domain bitcoin.jp arsenic portion of the deal.
In a strategical enactment shift, Phillip Lord, President of Bakkt International, volition instrumentality implicit arsenic CEO of Marusho Hotta.
Meanwhile, bitcoin treasury steadfast BitBridge Capital Strategies has completed its merger with Green Mountain Merger Inc., the institution said successful a press release yesterday.
The institution volition commencement trading nether the ticker awesome BTTL connected the over-the-counter (OTC) markets by the extremity of the 3rd quarter, with plans to uplist to NASDAQ thereafter.
Read more: Bakkt Sells Loyalty Business and Pivots to Pure-Play Crypto, Offers Shares
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