Blockchain.com acquired SeSocio, a major crypto company from Argentina, in order to boost its presence in Latin America. In today’s Blockchain news, we are reading more about it.
As Blockchain.com acquired SeSocio, about 100 of its employees will join the blockchain company which brings the global headcount to 400 people. The major crypto wallet and data company is expanding in Latin America after it acquired the crypto company based in Argentina. One of the biggest investment platforms in Latin America is, of course, SeSocio, which will now merge with Blockchain.com to help them scale operations in the region. As a part of the acquisition, 100 employees from SeSocio will join Blockchain.com.
Together, the company will focus on providing crypto-based services to the unbanked and underbanked in the region or in countries where Blockchain.com operates, including Mexico, Colombia, Chile, and Brazil. The UK-based company is also planning to launch a physical presence in the country by opening new offices and hiring some local talent as well. The companies didn’t disclose the amount of the acquisition but according to the announcement, Sesocio is blockchain.com’s biggest acquisition to date.
Founded by Guido Quaranta and Gaston Krasny in 2017, SeSocio is a personal finance application that allows its users to hold, buy and manage their investments in crypto. According to the company’s website, SeSocio supports over 45 cryptocurrencies such as Ether, Bitcoin, and more. The company raised over $11 million in a few funding rounds according to reports. According to the CEO of Blockchain.com, Peter Smith, Latin America has one of the biggest growth opportunities in the upcoming decade with millions already seeing inflation at its worst with new currencies emerging out of thin air and seeing some strong political instability which can be quite favorable for crypto.
The acquisition came in line with blockchain.com’s global expansion ambitions when the company started acquisition companies like AiX which is an artificial intelligence company. Blockchain.com is also one of the biggest companies in the crypto industry that has a value of $5.2 billion.
As recently reported, One of the biggest crypto solutions providers Blockchain.com moves from New York To Miami in an attempt to spur aggressive growth over the next few years. The company intends to hire 300 new full-time employees in the region over the next year and the news broke a day before the city played host to the biggest BTC conference. Miami Mayor Francis Suarez made the announcement during the City Hall along with CEO Peter Smith. He explained that not only will the move boost local employment but it will also be an investment in the local technology community via educational programming.
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