Payment Platform Bolt Announces Acquisition of Wyre in a Reported $1.5B Deal

Not to be confused with the Estonian mobility service Bolt.eu, the checkout experience platform, together with Wyre’s fiat-to-crypto gateway, seeks to combine its technologies to give customers access to its e-commerce solutions via crypto.

According to the news release, the acquisition will allow Bolt to implement Wyre’s crypto-to-fiat API and enable customers to use Bolt’s native CheckoutOS platform, including the one-click checkout service, and make purchases with crypto without needing to swap for fiat.

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While the companies didn’t officially disclose the exact amount of the deal, a spokesperson familiar with the agreement spoke with the Wall Street Journal, stating that the sum was approximately $1.5 billion.

CEO of Bolt Maju Kuruvilla spoke on the recent acquisition of Wyre, highlighting the importance of keeping up with the latest trends in finance and improving the customer experience in e-commerce. He added:

"This acquisition will pave the way for seamless, secure crypto transactions, and NFT enablement for our retailers. Both consumers and retailers will benefit from a friction-free buying experience that supports crypto and NFT natively. We're also proud to bring Wyre's unparalleled team and its advanced crypto stack into the Bolt ecosystem, and we're excited about our joint mission of bringing crypto mainstream."

Even though the acquisition is expected to wrap up only later this year, Bolt unveiled that the acquisition of Wyre will also give its customers a wide variety of crypto-related services like NFT purchases and access to Wyre’s scalable API for developers.

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