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Fintech company Bolt Financial Inc. and blockchain startup Wyre Payments have dissolved the deal to take over the latter for $1.5 billion, according to a press release. According
Fintech company Bolt Financial Inc. and blockchain startup Wyre Payments have dissolved the deal to take over the latter for $1.5 billion, according to a press release.
According to the statement, the decision was taken by mutual agreement. Instead, Wyre will enter into a commercial agreement with Bolt to implement its solution on the company’s client platform.
The deal was expected to close before the end of 2022, but both Wyre and Bolt have agreed to remain independent businesses.
The takeover was announced in April. Then the WSJ edition described the upcoming Wyre acquisition as the largest in the history of the crypto industry. SPAC.
Founded in 2014, Bolt Financial offers merchants one-click payment services. The deal will allow the company to enter the cryptocurrency payments market.
Wyre is a blockchain payment platform operator. The startup estimates that by 2025, around one million developers will interact with its infrastructure.
Recall that in January 2021, the Stellar Development Foundation invested $5 million in Wyre to expand its ecosystem.
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I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
