- Bolt announces to acquire Wyre in order to boost Krypto services and the opportunity of the next iteration of the internet, Web3.
- It is such a thrill to announce this acquisition, and it is another step that Bolt has taken to improve the buying experience, highlights Bolt CEO, Maju Kuruvilla.
- Bolt did not reveal the financial details of this acquisition deal, but reportedly the deal might be worth about $1.5 Billion.
Bolt, an e-commerce platform, has recently disclosed an agreement regarding its acquisition of Wyre, the digital currency provider, says the company’s recent press statement.
Decentralize Commerce & Enhance Digital Shopping Experience
According to the announcement, the company is willing to decentralize commerce and make digital shopping easy. Both the entities plan to close the transaction and completely integrate prior to this year’s end. Following the acquisition, the deal agreement would bring the power of Bolt’s CheckoutOS, one-click checkout, payments, authentication, and fraud protection to the Krypto 'Industrie.
The benefits of the collaboration would comprise millions of shoppers in the Bolt network to gain access to various digital currencies. The company further highlighted that a large number of retailers can now accept Krypto assets for goods and services. And that Bolt users’ would be able to acquire Non-Fungible Tokens (NFTs) through Wyre’s APIs.
According to the CEO of Bolt, Maju Kuruvilla, their merchant and retail partners expect them to always be innovative as their customers demand it. And that is why it is such a thrill to announce this acquisition, which is yet another step that Bolt has taken to improve the buying experience.
He further highlighted that this acquisition would pave the way to seamless and secure Krypto transactions and NFT enablement for their retailers. Consumers and retailers will benefit from a friction-free purchasing experience that natively supports Krypto and NFT.
According to Ioannis Giannaros, CEO of Wyre, in a landscape full of mediocrity, combining forces with Bolt to extend its robust CheckoutOS into crypto would set a new standard and facilitate new opportunities globally. They simply want to allow every retailer to transact easily in solle eliminating long-standing barriers.
Co-founded by Michael Dunworth and Ioannis Giannoras back in 2013, Wyre is a blockchain payment platform providing blockchain-connected payment APIs and fiat to Krypto onramps. Whereas the e-commerce platform firm Bolt was founded in 2014.
Although Bolt did not reveal the financial details of this acquisition deal, according to Wall Street Journal, the deal was among the largest crypto firm acquisitions with respect to financial settlement size this year. Its report further notes that this deal may be worth around $1.5 Billion.
Source: https://www.thecoinrepublic.com/2022/04/08/e-commerce-platform-bolt-acquires-wyre-focused-on-decentralizing-commerce/