Bolt Financial said to be buying crypto startup Wyre for $1.5B – WSJ

Payments-focused financial technology company Bolt Financial Inc. is buying crypto services startup Wyre Payments Inc. for about $1.5 billion, The Wall Street Journal reported April 7, citing people familiar with the matter.

The transaction would be the largest merger deal in the cryptocurrency sector without the involvement of a special purpose acquisition company, the Journal noted, citing data from Dealogic. The biggest such deal so far was Galaxy Digital Holdings Ltd.'s acquisition announcement for BitGo Inc. in May 2021, according to the news outlet.

The cryptocurrency sector booked a total of $1.25 billion worth of M&A deals in the first quarter of 2022, the Journal reported, citing Dealogic.