Bolt, a global checkout and shopper network company, announced today that it has reached a definitive agreement to buy Wyre, a cryptocurrency infrastructure provider startup. This acquisition is expected to close in 2022. It comes amid increasing demand for cryptocurrency-related goods and services and the potential of Web3. Bolt and Wyre are joining forces to create commerce solutions that enable mainstream, secure cryptocurrency use for millions of consumers, developers, and retailers.
The companies will work together to decentralize commerce, combining their technologies to simplify and evolve digital shopping. Wyre’s APIs make it easy and safe to convert crypto to fiat. This reduces the barriers to entry for partners and developers.
Bolt and Wyre plan to close the transaction and fully integrate before the end of the year, and once complete, the acquisition will bring the power of Bolt’s CheckoutOS – one-click checkout, authentication, payments, and fraud protection – to the cryptocurrency ecosystem. Wyre’s innovative crypto infrastructure will allow Bolt to securely exchange crypto to fiat. This allows retailers to accept cryptocurrency payments with the same security and ease as traditional currency.
Wyre explained that this acquisition will accelerate its efforts to democratize commerce. It added that it will also serve as a strong proof point for the integration of cryptocurrency and commerce.
Wyre will integrate their crypto stack to help Bolt develop its extensive API offerings. This will enable developers to quickly and securely build financial products that can scale up to millions of users around the world using the most popular blockchain protocols.