Bolt Axes $1.5B Deal to Buy Crypto Infrastructure Provider Wyre
Business
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 (ETHC).
- The deal was expected to close before the end of this year after it was initially agreed in April.
- Instead, San Fransisco-based Wyre will enter a commercial agreement with Bolt to implement its one-click solution on Bolt's client-facing platform.
- In 2021, Wyre connected with the Visa (V) network to allow users to move money between fiat currencies and crypto.
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