A matter of common sense! Californian start-up Bolt has announced acquisition of the huge crypto infrastructure platform wyre for a mentioned sum of1.5 billion of dollars. The care of cryptocurrencies and at the same time NFT by bolt there is a good chance that it will be talked about a lot in the months/years to come. The public that will be affected will be consequent and the procedure will a priori perfectly integrate the use of cryptocurrencies in exchanges. The choice of the start-up goes in the guideline of its fundamentals and don’t stop at current movement.
Bolt and Wyre in a nutshell
Bolt is a american company founded in 2014 which makes its particularity its strength : allow in a click purchases between merchants and individuals. In other words Bolt represents a direct payment solution without going through intermediaries. Thus hundreds of retailers use this application to provide their customer with a smooth payment experience.
Wyre is currently the main fiat-to-crypto payment infrastructure and payment infrastructure company for the crypto ecosystem. Aimed primarily at developers, it provides Easy integration APIs to allow access fluid and intuitive to cryptocurrencies. To give some numbers Wyre has run over 15 million users to its partners and processed more than $10 billion payment since its creation.
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The acquisition by Bolt for a democratization of cryptos
In the end goal to allow the decentralized commercethe collaboration aims to enable Bolt consumers to pay for goods with cryptocurrencies while providing merchants with the tools to accept crypto. The acquisition is also intended to allow users to purchase NFT through Bolt’s platform using Wyre’s APIs.
The procedure following Bolt’s definitive agreement for the acquisition should, according to the main parties, be completed no later than before the end of the year. The reason for this event is essentially reflected in a context where the demand for the purchase of goods and services in cryptocurrencies is exponential but also in a own will of the founder of Bolt :
“This acquisition is the realization of a long-standing ambition. When I wrote Bolt’s draft business plan, I had always envisioned cryptocurrency at its center […]. It was 2015, and the idea was a slide on a slideshow. To think that seven years later we would partner with Wyre to make that vision a reality is incredible. This acquisition will accelerate our efforts to democratize commerce and serve as powerful evidence for the union of cryptocurrency and commerce.”
Rayan Breslow, Founder and Executive Chairman of Bolt
The terms used are strong and yet most likely in the image of reality. Bolt intends to accelerate the phenomenon of the adoption of cryptocurrencies. By offering new commercial solutions for the general public and by incorporating the use of cryptocurrencies Bolt will reach its million users and will inevitably influence what could be seen as competition.
Despite a capricious market, the good news keeps piling up and the fundamentals are getting stronger every day. The collaboration of Wyre and Bolt is a big step forward, different from those that may have been the announcements of Tesla, Uber, Mc Donald’s etc… Bolt intends to support buyers and sellers in their use of cryptocurrencies in order to trivialize their adoption. Doubt is no longer allowed, and even if Europe puts a spoke in the wheels, the time to adapt is now proving to be the only real obstacle in the face of the long-awaited democratization.
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