Bolt Rolls Out SuperApp That Combines Everyday Payments With One-Click Crypto
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Bolt, a one-click checkout technology company, has just rolled out a new product — a so-called SuperApp, which combines one-click crypto with everyday payments. The new app has the potential to allow the company to compete with industry giants, such as PayPal, Coinbase, and Zelle.
Bolt’s SuperApp is the new product that is actually the first thing that the company has launched since the return of its founder, Ryan Beslow. Breslow. Breslow founded the firm in 2014, but he stepped down eight years later, in 2022, after a controversy surrounding a $30 million personal loan he took out.
The move led to a legal battle with Bolt investor Activant, who claimed that Breslow put the startup in a $30 million debt by borrowing the amount, and then defaulting, only to then take out company funds to pay it back.
Eventually, the case was settled, and Bolt agreed to repurchase Activant’s shares, paying them a total of $37 million in 2024.
Breslow Wants To Expand On Bolt’s Capabilities And Potential
Bolt had a major potential as a company, even raising $1 billion in funding with a one-time high valuation of $11 billion. However, since then, the startup has slowed down significantly, seing reduced revenue growth, which impacted its standing.
Breslow eventually managed to fight off the disquiet from the board, and he returned as the CEO last month. Now, he has plans to expand on the firm’s checkout interface, which led to the creation of the SuperApp.
Commenting on the app, he said that it is fast, simple, rewarding, and radically consumer-first. He further explained that the company took the most essential money tools, including cryptocurrencies, payments, shopping, and rewards, and rebuilt them into a single, seamless experience.
“This is the future we’ve been building toward for many years, and the time is now. No more juggling apps, no more friction. Just one single app, and one single click, for everything to do with your money with ease.”
Bolt already offers a rather robust set of features, including additional functionality that is on the horizon. That will include one-click crypto, P2P payments, and a rewards-based cashback debit card.
