History
2022: Takeover by Bolt Financial for $1.5 billion
At the beginning of April, 2022 Financial specializing in payment financial technologiyakhbolt declared purchase of a cryptocurrency startup of Wyre. The transaction amount will be about $1.5 billion. According to the research company Dealogic, this takeover was the largest transaction in the history of the crypto industry, which took place without the participation of a specialized company for targeted mergers and acquisitions.
According to The Wall Street Journal, buying Wyre, the fintech company Bolt Financial is trying to occupy its niche in the field of online payments by offering sellers one-click checkout services. According to Crunchbase, the company raised about $1.3 billion in venture capital and was valued at about $11 billion.
Wyre is the operator of the payment blockchain platform, and its application software interface (API) and crypto-fiat gateways allow customers to interact with digital assets. The company offers services for retail and business clients for the exchange of national currencies and cryptocurrencies between banks and cryptocurrencies, as well as for cryptocurrency trading.
{{quote 'In 2022, we are making history and joining forces to reinvent how people interact with commerce and cryptocurrency... Simply put, we want each retailer to be able to easily make transactions in cryptocurrency, eliminating long-standing barriers, "said Wyre CEO Ioannis Giannaros. }} According to The Wall Street Journal, in January 2021, the Stellar Development Foundation invested $5 million in Wyre to expand its ecosystem. The company has money transfer licenses in 27 states. USA The startup predicts that by 2025 about a million developers will interact with its infrastructure. Bolt Financial and Wyre are based in San Francisco. Companies will jointly develop payment channels for the mass market, including. cryptocurrencies
In May 2021, Galaxy Digital agreed to purchase BitGo for $1.2 billion. The total volume of mergers and acquisitions of companies associated with cryptocurrencies in 2021 reached a record $4.9 billion. In the first quarter of 2022, they were already concluded for $1.25 billion, not counting the deal of Bolt Financial and Wyre.[1]
Notes
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