San Francisco-based one-click payment service platform Bolt Financial has announced that it will acquire a blockchain-based crypto payment startup, Wyre, for an alleged $1.5 billion value.
According to the Wall Street Journal, the acquisition value would make this deal the largest merger in the crypto sector that didn’t involve a SPAC or “blank check company”.
Bolt is at the core of technology issues like checkout, fraud detection, and digital wallets while Wyre offers on-ramps and off-ramps transfers, and crypto liquidity. This acquisition would see the two firms combine their prospects to power the crypto industry’s first one-click checkout.
The acquisition is expected to close later this year, and Bolt’s retailers will be able to accept crypto as payment for goods and services, as well as NFTs, via Wyre’s APIs.
Maju Kuruvilla, CEO of Bolt, said, “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.”
Yanni Giannaro, Co-founder and CEO of Wyre, wrote in his blog, “To our partners and builders — we are committed to providing you with the tools and infrastructure you need to create powerful crypto experiences, to help bring your vision to life.”
In recent news, Metamask announced a new app update for iOS users, allowing them to buy Ether (ETH) and other cryptocurrencies directly from the app by integrating ApplePay. This took place thanks to the payment gateway deal between Wyre and Metamask.