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Finance

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.

By Oliver Knight
AccessTimeIconSep 12, 2022 at 12:33 p.m. UTC
Updated May 11, 2023 at 5:41 p.m. UTC
San Fransisco-based Wyre will no longer be acquired by Bolt. (Joonyeop Baek/Unsplash)
San Fransisco-based Wyre will no longer be acquired by Bolt. (Joonyeop Baek/Unsplash)

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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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Oliver Knight
    Oliver Knight

    Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

    Follow @OKnightCrypto on Twitter
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