Bolt has launched a new SuperApp that combines one-click crypto transactions with everyday payments, positioning itself to compete with major players like Coinbase, Zelle, and PayPal.
This innovative product marks the first significant release since Ryan Breslow reassumed control of the company he founded in 2014. Breslow had stepped down in January 2022 amid controversy surrounding a $30 million personal loan he secured from the company, which led to a legal dispute with Bolt investor Activant. The lawsuit claimed that Breslow burdened the startup with debt by borrowing that amount and then defaulting, using company funds for repayment. The matter was eventually resolved, with Bolt agreeing to buy back Activant’s shares for $37 million last year.
Despite having raised around $1 billion in funding and previously achieving a valuation of $11 billion, Bolt has faced challenges, including slower revenue growth that has affected its market position. Breslow recently returned as CEO with intentions to enhance the company’s checkout interface by developing the SuperApp as a centralized, personalized financial services hub.
Breslow stated, “Bolt’s app is fast, simple, rewarding, and radically consumer-first. We’ve taken the most essential money tools — crypto, 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.”
The app offers a comprehensive range of features, with more functionalities forthcoming, such as one-click crypto, a rewards-based cashback debit card, and peer-to-peer payments.
Users can download the app from the Bolt website. iOS users will initially be placed on a waitlist, with full access expected to be granted selectively early next week, followed by an Android release in the coming months.