Digital Assets: Online Checkout Company Bolt Acquires Blockchain Software Provider Wyre For $1.5B

This is one of the largest takeovers in the crypto industry not involving a SPAC.
Bolt Financial Inc will acquire Wyre Payments Inc in a transaction valued about $1.5 billion, according to Bloomberg, which quoted the WSJ for the deal amount. Both firms announced the takeover today citing the growing adoption of crypto for purchases of goods and services, as well as Web3. (CISION PR Newswire)
Bolt is a ecommerce startup specializing in checkout services, while Wyre is a fiat-to-crypto and payment infrastructure company. Both are based in San Francisco. The acquisition is expected to be consummated within 2022.
Bolt + Wyre
“Once complete, the acquisition will bring the power of Bolt’s CheckoutOS—one-click checkout, authentication, payments, and fraud protection—to the cryptocurrency ecosystem,” the company said in a statement. “Bolt will join forces with Wyre’s groundbreaking crypto infrastructure to securely exchange crypto to fiat—which enables retailers to accept cryptocurrency as a payment method, with the security and ease of traditional currency.”
“Simply put, we want to allow every retailer to transact easily in cryptocurrency, removing long-standing barriers,” commented Ioannis Giannaros, co-founder and CEO of Wyre.
“Both consumers and retailers will benefit from a friction-free buying experience that supports crypto and NFT natively,” said Maju Kuruvilla, CEO of Bolt.
Post-closure, the millions of shoppers on the Bolt network would be able to use cryptos to transact their purchases, while retailers would easily accept cryptocurrency.
Related Story: Manasquan Bank Enables Crypto Transactions Via Bakkt

Latest Alternative Investment News

Digital Assets: Ripple Labs Eyeing Pieces Of Celsius In Bankruptcy Wreckage
Ripple Labs, the blockchain payments company that created the XRP cryptocurrency, is interested in purchasing assets of Celsius Network, the crypto lender that was forced into bankruptcy amidst the meltdown…

FinTech: German Bank Nuri Files For Insolvency Amidst Macro Environment And Crypto Bear Market
Nuri, a digital banking platform and app, offered users crypto transactions as well as normal banking activities including a debit card. The firm announced it had filed for insolvency on…

Artificial Intelligence: AI Robot TX SCARA To Debut In 300 FamilyMart Stores In Japan
Telexistence Inc., the Japanese robotics company, announced the launch of its TX SCARA restocking robots in 300 FamilyMart convenience stores in Japan later this month as part of its AI-based…

Alternative Investments/Digital: GraniteShares Launches The First Coinbase Leveraged ETF
US ETF issuer GraniteShares, which first launched leveraged ETFs on single stocks in the UK in 2019, and now offers 106 such products across Europe, has listed a suite of…