Latest News

Bolt to acquire crypto start-up Wyre for $1.5bn

By Will McCurdy

Bolt is set to acquire cryptocurrency start-up Wyre for $1.5 billion.

Wyre, founded in 2013, provides API infrastructure which enables retailers to accept cryptocurrency as a payment method.

Bolt, founded in 2014, is a US-based payment service that offers one-click shopping like Apple Pay or PayPal.

The companies said the move will allow Bolt's hundreds of partner retailers to accept cryptocurrency and consumers will be able to use crypto as payments for physical goods.

The tie-up will also allow consumers to purchase NFTs through Bolt, using Wyre's APIs.

The deal and infrastructure integration are anticipated to finalise later in 2022.

"This acquisition is the fulfillment of a long-time ambition,” said Ryan Breslow, founder and executive chairman at Bolt. “When I wrote the draft business plan for Bolt, I had always imagined cryptocurrency at its centre."

"That was 2015, and the idea was a slide on a pitch deck. To think that seven years later, we'd be partnering with Wyre to make that vision a reality is incredible.”

He added: “This acquisition will fast-track our efforts to democratize commerce—and it will serve as a powerful proof point for the union of cryptocurrency and commerce."

    Share Story:

Recent Stories

Barclays issued with $361m penalty

Toqio raises €20m in Series A funding round

Penfold launches Advisor Portal aimed at SMEs


The human firewall: Activating employees to safeguard financial data
As financial services increasingly embrace SaaS and cloud-based technologies, they face emerging threats to safeguard sensitive customer data. While comprehensive IT security measures are essential, the active involvement of employees across organisations is pivotal in ensuring the protection of sensitive data.

BANNER

BANNER

Building a secure financial future for instant payments: The convergence of ISO 20022 and fraud detection
The financial landscape is rapidly evolving its approach to real-time transactions under the ISO 20022 standard, and financial institutions must take note. With examples such as the accelerated adoption of SEPA Instant Credit Transfers in Europe and proposed New Payment Architecture (NPA) programme in the UK, the need for swift and effective fraud detection is more crucial than ever.

Data Streaming and Consumer Duty: Transforming customer experience in banking
Introduced at the end of July, the Consumer Duty is a game-changing new set of rules and guidance for financial services institutions in the UK, and companies must look to modernise their systems in adherence with it in mind to create the best customer experience possible.

From insight to action: Empowering financial institutions through advanced technology and collaborative information sharing
The use of Information sharing in enhancing financial crime prevention has been universally agreed as being beneficial. However no-one has been able to agree on how information can be shared safely without breaching data protection laws or having the right systems to facilitate this, Information sharing has re-emerged as a major consideration for financial institutions (FIs) ahead of the Economic Crime and Corporate Transparency Bill being made into law in the UK.

© 2019 Perspective Publishing     Privacy & Cookies