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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.
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.
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
