Payments Firm Bolt Scraps Deal to Acquire Crypto Company Wyre – Bitcoin News

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Bolt pulls out of $1.5 billion deal to acquire blockchain payment platform Wyre.

The deal was considered one of the largest crypto business acquisitions this year. After a funding round in January, Bolt was last valued at $11 billion. The report notes, however, that high tech valuations have since come under increased pressure as investor sentiment was hit by recession fears and negative developments in the equity markets.

Payments processor Stripe and fintech Klarna Bank have also taken significant valuation cuts, Reuters pointed out. Industry valuations have dropped significantly in the crypto sector as well during the market slump in the past months. In a released statement, Bolt emphasized it will continue its partnership with Wyre. The online checkout firm elaborated that remaining independent would allow it to focus on its core areas of business. Company CEO Maju Kuruvilla was quoted as stating:

We will continue our existing commercial partnership with Wyre to pave the path of crypto integration into our ecosystem, bringing Wyre’s innovative crypto infrastructure to the world. Wyre offers blockchain-connected payment APIs and fiat-to-crypto onramps, foreign exchange, and cryptocurrency liquidity to users of various crypto projects. It was established in 2013 and like Bolt, which was founded a year later, is headquartered in San Francisco.

 

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interesting news, these deals reminded me of IguVerse and their productive cooperation with other projects, by the way, they have an NFT blockchain game coming out soon, where you can make unique NFTs with your pets

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bolt x volt sounds like a better ring to it boltapp x VoltInuOfficial

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Payments Firm Bolt Scraps Deal to Acquire Crypto Company Wyre – Bitcoin NewsCalifornia-based online payments company Bolt is pulling out of an agreement to buy crypto and blockchain provider Wyre. Crazy returns in airdrop now 🎁 🚀 Thnks a millon. Whyy is the media silentt about thiss?
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