On November 30, crypto firm Blockchain.com announced the acquisition of Argentina-based investment platform Sesocio. According to the company, the acquisition will give the company’s global workforce a global workforce of 400 Blockchain.com employees worldwide.
At the end of March, Blockchain.com raised $ 300 million and the company’s valuation reached $ 5.2 billion. In August, Blockchain.com CFO Macrina Kgil explained how the company surpassed $ 1,000 billion in cryptocurrency transactions.
Kgil further revealed that the company could go public in 18 months while revealing that Blockchain.com holds BTC and ETH on its balance sheet. The crypto firm, founded in 2011 by Benjamin Reeves, Nicolas Cary and Peter Smith, detailed on Tuesday that the company had acquired the Latin American crypto investment platform Sesocio.
Blockchain.com explained that it has already made its mark in countries like Brazil, Chile, Colombia, Mexico, and Argentina.
Similar to Coinbase’s recent announcement, detailing the acquisition of Unbound Security would lead to a presence in Israel, Blockchain.com notes that there will be a “physical presence” in Latin American countries, “by opening offices and by hiring locally ”.
The Luxembourg-based company’s announcement says the team will focus on making cryptocurrency solutions simpler and more accessible for the unbanked.
“Latin America presents one of the greatest opportunities for growth in crypto over the next decade,” Peter Smith, CEO of Blockchain.com, said in a statement. “Millions have already seen inflation at its worst, new currencies appear out of nowhere and have experienced political instability – creating a favorable environment for crypto. With the Sesocio team, we aim to provide every Latin American with access to a global crypto platform, ”added Smith.
The Blockchain.com acquisition follows the company’s deal with bitcoin mining company Gridid Infrastructure. Gridi told reporters on November 23 that he had secured a $ 525 million credit facility from Blockchain.com. In addition, Blockchain.com also this year acquired consumer startup Storm Inc., investment firm Magic Carpet, and artificial intelligence (AI) company Aix.
“We are extremely proud of what we have been able to build in the Latin American market and the growth we have seen as a company so far,” said Guido Quaranta, co-founder and CEO of Sesocio. “I am convinced that Sesocio will flourish in this next chapter of our adventure. With Blockchain.com, we will usher in a new era of increased crypto accessibility in Latin America and beyond. “