Bolt, a major checkout and shopper network firm, said today that it has reached an agreement to buy Wyre, a pioneer in bitcoin infrastructure. The deal, which is expected to finalize later in 2022, comes amid rising demand for cryptocurrencies as a means of acquiring products and services, as well as the potential of Web3. Bolt and Wyre’s collaboration will enable millions of buyers, businesses, and developers to use cryptocurrencies in a safe and secure manner.
The companies will collaborate to decentralize commerce by combining their technologies to improve and simplify digital shopping. Wyre’s APIs make crypto to fiat conversions simple and secure, lowering the barrier to entry for developers and partners. The acquisition will extend the capabilities of Bolt’s CheckoutOS—one-click checkout, authentication, payments, and fraud protection—to the bitcoin ecosystem once completed. Bolt and Wyre plan to close the transaction and fully integrate before the end of the year. Bolt will team up with Wyre’s ground-breaking crypto infrastructure to safely convert bitcoin to fiat, allowing shops to accept cryptocurrency as a payment method while maintaining the security and convenience of traditional currencies.
“This acquisition is the fulfilment of a long-time ambition. When I wrote the draft business plan for Bolt, I had always imagined cryptocurrency at its centre,” Bolt’s founder and executive chairman, Ryan Breslow, stated.
He continued, “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. 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.”
Bolt is on a quest to make commerce more democratic. Bolt improves retailers’ consumer relationships by enabling safe, logged-in, and lightning-fast checkouts. Bolt businesses are visited by the company’s fast-growing network of one-click-checkout-ready shoppers as if they were returning customers.