Bolt acquires Wyre payment system to decentralize commerce

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Bolt plans to provide its customers with access to cryptocurrencies and collectible tokens (NFTs) through integration with the payment system on the Wyre blockchain.

E-commerce platform Bolt said the partnership will enable millions of customers to access various digital currencies. The company aims to decentralize trade – hundreds of retailers will be able to accept crypto assets for goods and services, as well as purchase non-fungible tokens through the Wyre API.

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The companies plan to fully complete the integration before the end of this year. According to the Wall Street Journal, the deal amounted to $1.5 billion, but the company itself has not yet disclosed financial details. Bolt CEO Maju Kuruvilla said that their customers are extremely interested in innovation, which is why the company made such a large purchase:

“The new acquisition will allow our retailers to seamlessly and securely conduct cryptocurrency transactions, as well as support the NFT infrastructure. Both buyers and sellers will benefit from this deal.”

Earlier, the Stella Stays hotel chain announced that it would begin accepting cryptocurrency payments in more than 35 digital currencies. According to the founders of the hotel, accepting payments in cryptocurrencies is a pioneering step that puts them at the forefront of innovation.

Source: Bits

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