Bolt, a payments and e-commerce firm, has acquired crypto company Wyre in a deal valued at around $1.5 billion.
"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," the firms said in a press statement shared with The Block.
The news signifies the latest intersection of the crypto space and the broader fintech industry. The acquisition deal, among the biggest in the crypto industry to date, was first covered by the Wall Street Journal Thursday morning.
"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," Ryan Breslow, Bolt's founder and chairman.