Bakkt is finalizing a minority acquisition of Japanese company Marusho Hotta, taking a 30% stake and planning to rename it “bitcoin.jp.” Marusho Hotta’s stock surged over 36% on the Tokyo Stock Exchange, previously trading as a penny stock under 60 yen.

Bakkt, founded in 2018 by Intercontinental Exchange, is shifting to become a pure-play crypto infrastructure company. They recently sold their loyalty business to focus on core crypto offerings and are raising up to $1 billion through securities offerings.

Corporate treasury strategies are evolving as more companies like Bakkt transition into crypto treasury firms. Public companies collectively hold over 932,000 BTC, with private companies adding another 426,000 BTC. Companies are also diversifying into altcoins like Ether, Solana, and XRP on their balance sheets.

Read more at Cointelegraph: Bakkt Buys Stake in Japan’s Marusho Hotta, Plans Rebrand to bitcoin.jp