Checkout technology corporation Bolt Financial Inc. has agreed to acquire the crypto infrastructure payments firm, Wyre for a transaction value of $1.5 billion. In a statement shared on Thursday, Bolt expects the deal to close by the end of the year. *Bolt to Acquire Crypto Startup Wyre for $1.5 Billion, Sources Say — WSJ *Deal to Mark Biggest Non-SPAC Crypto Takeover — WSJ — *Walter Bloomberg (@DeItaone) April 7, 2022 The Objective Behind Acquiring Wyre The two San Francisco-based and privately owned corporations are aiming to provide their users with a one-click cryptocurrency checkout system to simplify the digital shopping experience. The acquisition will allow online service seller Bolt’s retailers to accept cryptocurrency as payments for goods and services, thereby, allowing the purchase of NFTs through Bolt using Wyre’s APIs (application programming interfaces). The Chief Executive of Bolt, Maju Kuruvilla stated, “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.” It has been several years since Bolt has been planning the integration of a crypto payment option. The one-click checkout designed for a smoother and faster interface is beneficial when your customers are high-end brands like Forever 21 and Juicy Couture.The post Payments Compan...
