Payments startup Bolt has acquired Wyre, a cryptocurrency payments company that provides a set of APIs that enable crypto on and off-ramps as well as transfers between cryptocurrency pairs. According to the Wall Street Journal, the price is around $1.5 billion. Bolt has raised $1.3 billion, including $353 million in January, so the deal could be part cash, part equity.
Bolt’s offering is similar to PayPal’s but with a few hundred merchants on board, compared to PayPal’s 20 million. Together the two startups aim to offer a one-click retail checkout that supports cryptocurrency.
Wyre says it has processed more than $10 billion in payments and provided a cryptocurrency onramp to more than 15 million consumers.
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