Bakkt Invests in Japanese Yarn Company for Crypto Business

Bakkt, a big name in the world of cryptocurrency, just made a surprising move. They bought 30% of a Japanese yarn company called Marusho Hotta. The deal is worth $115 million. But Bakkt isn’t interested in yarn. Instead, they want to change the company completely. They will rename it “bitcoin.jp” and turn it into a crypto business, as reported by Cointelegraph.

From Yarn to Bitcoin: A Big Change

Marusho Hotta is known in Japan for making good yarn. But now, it will leave that behind. With Bakkt’s help, it will focus on cryptocurrencies like Bitcoin. This might sound strange at first. How does a yarn company become a crypto company?

The answer is that crypto is growing fast, and it is reaching many different industries. Japan is one of the countries where Bitcoin is very popular. So, Bakkt sees a good chance to enter Japan’s crypto market by working with a well-known local company.

What Is Crypto Treasury?

The new business, bitcoin.jp, will focus on something called “crypto treasury.” This means helping companies manage their digital money. Instead of just keeping cash, companies will hold Bitcoin and other cryptocurrencies as part of their finances.

Many businesses are starting to think about using crypto this way. But it can be tricky because the price of crypto can go up and down a lot. That is why bitcoin.jp wants to help companies keep their digital assets safe. They will offer services to make managing crypto easier and less risky.

Why This Is Important for Japan and Bakkt

Bakkt has been growing steadily by making crypto easier and safer for people to use. Now, with this deal, they want to become a major player in Japan’s crypto world.

Japan already has clear rules for cryptocurrencies. This makes businesses feel more confident about using crypto. Plus, many people in Japan already know and trust Bitcoin. By joining with Marusho Hotta, Bakkt gets local experience and a way into the market.

This will allow Bakkt to offer new services, like safe storage for Bitcoin and managing digital money for companies. It could also lead to other new crypto products.

What Could Happen Next?

This deal could encourage many more Japanese companies to start using cryptocurrencies. If bitcoin.jp succeeds, Bitcoin and other digital currencies could become a normal part of business in Japan.

Also, Bakkt’s big investment might inspire other crypto companies to do the same in Asia. The crypto market in this region is growing fast, and this shows why it’s a good place to invest.

Looking Ahead

Changing from making yarn to managing crypto money is a big switch. Bakkt’s $115 million deal is not just a business move—it shows how fast things are changing in finance.

As bitcoin.jp grows, it will be exciting to see how it helps companies manage their crypto safely. It might also change how people use digital money in Japan and beyond.