Fintech company Bolt is all set to acquire the crypto startup, Wyre, to bring crypto payment options to their services. The $1.5 billion deal is a non-SPAC (Special purpose acquisition company) acquisition and is also the largest one in the crypto industry. With the completion of this deal, Bolt will be adding crypto payments to their checkout services which will make them more versatile. They will also be able to dabble with non-fungible tokens with Wyre’s APIs. The deal will be completed before the end of 2022.
Bolt is a checkout experience platform that allows businesses to focus on their brand while Bolt handles the transaction. When it comes to purchasing online, people have more alternatives than ever before, and merchants must supply them, or they will go. Even if a customer has never visited a retailer’s site before, they may benefit from one-click checkout with no passwords, forms, or payment information from the minute they join the Bolt Network.
Bolt takes care of the hard technology issues of checkout, fraud detection, and digital wallets, allowing merchants to focus on what matters most: developing their product, brand, and customer base. They are establishing a one-click checkout for the rest of the network, with millions of customers and leading brands. The company’s founder has always imagined crypto being at the core of their services, and now it is finally happening with this merger.
The crypto startup Wyre
Wyre is the creator of a blockchain-based payment network that aims to revolutionize the way international payments are made in the future. The company’s platform allows businesses to move money across borders at a reasonable foreign currency rate by offering real-time payments, same-day transfers, and direct-to-bank transactions.
Wyre’s business owners may effortlessly set up an account and transfer money to anybody or any company without having to worry about expensive foreign currency rates, hidden fees, convoluted payout scheduling, or hefty payment costs. It also offers users of numerous crypto initiatives, such as decentralized exchanges, onramps and offramps, foreign exchange, and crypto liquidity.
What are your thoughts as fintech company Bolt sets out to acquire the crypto startup, Wyre? And do you think that offering a crypto payment option is necessary at this point? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.