The fintech company Bolt Financial Inc. will acquire the payments blockchain startup Wyre Payments; the deal is valued at about $1.5 billion, according to The Wall Street Journal. The parties confirmed the publication’s report.
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Thrilled to share that @bolt will acquire @sendwyre, a disruptive cryptocurrency infrastructure provider. Together, we’ll be powering the industry’s first one-click cryptocurrency checkout. ⚡️🔑
As seen in @wsj👇https://t.co/LjtqSuMwxB
— Bolt (@bolt) April 7, 2022
According to WSJ, the planned acquisition would be the largest in crypto industry history that has taken place without the involvement of SPAC. In May 2021, the cryptocurrency bank Galaxy Digital acquired the custodian provider BitGo for $1.2 billion.
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Founded in 2014, Bolt Financial offers merchants one-click checkout services. The Wyre deal will allow the company to enter the cryptocurrency payments market.
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Wyre operates a payment blockchain platform. Its API and crypto-fiat gateways enable clients to interact with digital assets. The startup foresees that by 2025 roughly a million developers will interact with its infrastructure.
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According to WSJ, Wyre also holds a license to conduct money transfers in 27 U.S. states.
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Earlier in January 2021, the Stellar Development Foundation invested $5 million in Wyre to expand its ecosystem.