On Thursday, we were proud to announce
our portfolio company, Wyre
, has entered into an agreement to be acquired by ⚡ Bolt
, a leading fintech company that provides a seamless online shopping and checkout 🛒 experience for major retailers worldwide. 🌎
Why this matters
This proposed transaction
is a huge vote of confidence ✅ for the crypto industry that will help fuel mainstream adoption and streamline payment processes. 💳
Barriers to entry in the crypto space have always been high, which has deterred many people from dabbling in the sector. Now, with the talented teams behind Wyre and Bolt ⚡ combining forces (pending approvals and closing conditions are met), they will be able to meet growing demand from consumers who want to use cryptocurrency to purchase goods and services in both the physical-world and Web3.
Developers 👨💻 can also design protocols to introduce new financial products that can scale quickly and securely to reach millions of users across the globe.
Wyre, on its own, has on-ramped more than 15 million end users to their crypto partners and has processed US$10+ billion in payments 👀 since its inception in 2013. Its API is highly sought after by many developers in the space as the company is run by crypto natives who know how to innovate. 💡 🚀