Bolt Axes $1.5B Deal to Buy Crypto Infrastructure Provider Wyre
Wyre will implement its one-click checkout technology on Bolt's customer platform instead.
Sep 12, 2022 at 12:33 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/GQGAXNQK65EJBJR6VKFSFSLXNQ.jpg)
San Fransisco-based Wyre will no longer be acquired by Bolt. (Joonyeop Baek/Unsplash)
Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
A landmark deal that would have seen payments firm Bolt Financial acquire crypto infrastructure provider Wyre for $1.5 billion has been scrapped by mutual agreement, according to a press release from Wyre's minority equity holder Ether Capital.
- The deal was expected to close before the end of this year. The companies originally agreed to the deal in April.
- San Fransisco-based Wyre will enter a commercial agreement with Bolt to implement its one-click technology on Bolt's client-facing platform. Wyre's technology allows customers to complete online transactions with one click.
- In 2021, Wyre connected with the Visa (V) network to allow users to move money between fiat currencies and crypto.
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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
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