Payments company Bolt to buy Wyre in cryptocurrency push

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Bitcoin cryptocurrency representation is pictured on a keyboard in front of binary code in this illustration taken September 24, 2021. REUTERS/Dado Ruvic/Illustration

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April 7 (Reuters) - Online checkout company Bolt Financial Inc said on Thursday it is buying cryptocurrency infrastructure provider Wyre Payments Inc in a bid to enable digital-currency payments on its platform.

The company did not disclose the terms of the deal, but a Wall Street Journal report earlier in the day said it was valued at $1.5 billion. (https://on.wsj.com/3xeWbhE)

San Francisco-based Bolt was last valued at $11 billion after a funding round in January. It provides online retailers and shoppers a checkout service for payments.

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The company, which counts apparel retailers Forever 21, Juicy Couture and Lucky Brand among its customers, expects to close the deal by the end of the year.

Founded in 2013, Wyre provides payments infrastructure for cryptocurrencies.

Since last year, the crypto market has seen a surge of investor interest with large venture investors, celebrities and blue-chip companies doubling down on crypto investments.

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Reporting by Niket Nishant in Bengaluru; Editing by Devika Syamnath

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