Blockchain.com Acquires Latin American Crypto Investment Platform Sesocio
On November 30, the crypto firm Blockchain.com announced it acquired the Argentina-based investment platform Sesocio. According to the firm, the acquisition will give the company’s global workforce an aggregate headcount of 400 Blockchain.com employees worldwide.
Blockchain.com’s Global Headcount Grows to 400 After Acquiring the Crypto Investment Platform Sesocio
At the end of March, Blockchain.com raised $300 million and the firm’s post valuation swelled to $5.2 billion. In August, Blockchain.com’s CFO Macrina Kgil discussed how the company has surpassed $1 trillion in cryptocurrency transactions. Kgil further revealed the firm may go public in 18 months while disclosing that Blockchain.com held 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 has acquired the Latin American crypto investment platform Sesocio.
Blockchain.com explained that it has already made a mark in countries like Brazil, Chile, Colombia, Mexico, and Argentina. Similar to the recent Coinbase announcement, detailing the acquisition of Unbound Security would lead to a presence in Israel, Blockchain.com notes there will be a “physical presence” in the Latin American countries, “by opening offices and local hiring.” The Luxembourg-based company’s announcement notes that the team’s focus will be toward making cryptocurrency solutions easier and more accessible for the unbanked.
“Latin America presents one of the largest growth opportunities in crypto over the coming decade,” Peter Smith, Blockchain.com’s CEO said in a statement. “Millions have already seen inflation at its worst, new currencies emerge out of thin air, and 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,” Smith added.
Blockchain.com’s acquisition follows the firm’s deal with the bitcoin mining firm Griid Infrastructure. Griid told the press on November 23 it secured a $525 million credit facility from Blockchain.com. Further, Blockchain.com acquired the consumer startup Storm Inc., the investment firm Magic Carpet, and artificial intelligence (AI) firm Aix this year as well.
“We’re extremely proud of what we’ve been able to build in the Latin America market and the growth we’ve seen as a business thus far,” Guido Quaranta, Sesocio’s co-founder and CEO said. “I am confident that Sesocio will thrive in this next chapter of our journey. Together with Blockchain.com, we will pioneer a new age of increased crypto accessibility in Latin America and beyond.”
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