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Bolt Financial Acquires Wyre for $1.5 Billion to “Decentralize Commerce”

Global payment provider, Bolt Financial, disclosed a definitive agreement with Wyre to acquire the crypto startup for $1.5 billion. 

One of the Biggest Crypto Firm Acquisitions

In a press release dated April 8th, e-commerce platform Bolt announced it had reached an agreement with Wyre to purchase the crypto startup. However, the exact terms of the deal were not revealed.

Sources familiar with the matter revealed that the acquisition was completed for roughly $1.5 billion, making it one of the biggest crypto firm acquisitions in 2022. 

According to data from Dealogic, the acquisition represents the largest merger in cryptoverse history that did not involve a Special-Purpose Acquisition Company (SPAC) or a blank cheque.

Bolt Aims to Decentralize Commerce

As per the official press release, Bolt and Wyre are expected to “close the transaction and fully integrate before the end of the year.” 

Through the integration, hundreds of Bolt retailers will gain access to cryptocurrencies for the purchase of goods and services. The release added that:

“The acquisition will bring the power of Bolt’s CheckoutOS—one-click checkout, authentication, payments, and fraud protection—to the cryptocurrency ecosystem.”

Bolt revealed that the merger will see the two companies work together to “decentralize commerce” and “simplify digital shopping.”

On The Flipside

  • Experts have opined that the uncertain regulatory environment could continue to stifle the development and adoption of crypto. 

Why You Should Care

The Bolt – Wyre merger will see millions of Bolt network shoppers gain access to various digital currency options.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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Author

Milko Trajcevski has been in the crypto world for years, and as such has gathered both a skill for writing as well as a native prowess when it comes to understanding everything that occurs within that world. Through skilled writing and determination, he covers articles about cryptocurrency, tokens, blockchain, crypto-asset regulations, crypto wallets, exchanges, liquidity, DApps, forks, mining, security, and blockchain technologies. He is a professional with a track record of proven expertise within the crypto space.