CJ - Cryptocurrency Enthusiast
Bolt Financial, a global payment service, announced a binding deal with Wyre to buy crypto firm for $1.5 billion.
One of the Most Important Crypto Firms Has Been Acquired
E-commerce platform Bolt announced on April 8th that it had reached an agreement with Wyre to purchase the cryptocurrency business. However, the specifics of the transaction have not been made public.
According to sources familiar with the situation, the deal was finalized for over $1.5 billion, making it one of the largest crypto company purchases in 2022.
The deal is the largest in the cryptoverse's history without the use of a Special-Purpose Acquisition Company (SPAC) or a blank check, according to Dealogic figures.
Bolt Wants to Decentralize Business
According to the official news announcement, Bolt and Wyre want to "finish the acquisition and fully integrate before the end of the year."
The partnership will let customers at hundreds of Bolt stores to pay with Bitcoin for goods and services. The acquisition will give the Bitcoin ecosystem access to Bolt's CheckoutOS's one-click checkout, authentication, payments, and fraud protection, according to a statement from the business.
Bolt stated that the two businesses will collaborate to "decentralize commerce" and "simplify digital purchasing" as a result of the merger.
On the other hand, experts believe that the unpredictability of the regulatory environment will continue to hinder crypto growth and acceptance.
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