Leading US online checkout company Bolt Financial Inc. has announced that it is not going ahead with the $1.5 billion deal to buy it crypto Infrastructure provider Wyre Payments.
In April, the company said it would acquire Wyre given the growing demand to buy goods and services using cryptocurrency and the possibility of Web3.
After the acquisition, both companies should develop commercial solutions for the mainstream, for sure cryptocurrency Used by millions of buyers, retailers and developers.
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However, Bolt has said it will continue its partnership with Wyre and that independence would allow it to focus on its core areas.
“We will continue our existing commercial partnership with Wyre to pave the way for crypto integration into our ecosystem and make Wyre innovate crypto Infrastructure for the world,” Reuters quoted Bolt’s CEO as saying Maju Kuruvilla Saying.
Founded in 2013, Wyre provides users with blockchain-connected payment APIs and fiat-to-crypto ramps, forex and cryptocurrency liquidity.
After a funding round in January, Bolt was most recently valued at $11 billion.
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