Main cryptocurrency pockets and information service Blockchain.com is increasing in Latin America by buying SeSocio, a significant crypto firm based mostly in Argentina.
One of many greatest funding platforms in Latin America, SeSocio will now merge with Blockchain.com to assist them scale operations throughout the area, the agency formally announced Nov. 30.
As a part of the acquisition, 100 SeSocio staff will be part of Blockchain.com, instantly bringing its world headcount to 400 folks.
Collectively, the corporations will deal with offering crypto-enabled monetary providers to the unbanked and underbanked not solely in Argentina but additionally different nations the place Blockchain.com operates, together with Brazil, Chile, Colombia and Mexico. The UK-based firm can also be now planning to launch a bodily presence within the nations by opening places of work and hiring native expertise.
The businesses didn’t disclose the quantity of the acquisition. In line with the announcement, SeSocio is Blockchain.com’s “largest acquisition thus far.” Blockchain.com didn’t instantly reply to Cointelegraph’s request for remark.
Based by Guido Quaranta and Gastón Krasny in 2017, SeSocio is a private finance utility that enables customers to purchase, maintain and handle their investments, together with crypto funding. In line with the corporate’s web site, SeSocio supports over 45 cryptocurrencies like Bitcoin (ETH) and Ether (ETH). The agency raised over $11 million in a number of funding rounds, in keeping with on-line sources.
In line with Blockchain.com CEO Peter Smith, Latin America has “one of many largest development alternatives over the approaching decade.” “Hundreds of thousands have already seen inflation at its worst, new currencies emerge out of skinny air, and skilled political instability — creating a good atmosphere for crypto,” he noted.
Latin America stands to profit most from crypto, says Uphold exec
The acquisition comes in step with Blockchain.com’s world enlargement ambitions after the agency acquired firms like synthetic intelligence agency AiX earlier this 12 months. Initially launched as a blockchain information supply again in 2011, Blockchain.com is without doubt one of the largest firms within the crypto trade, valued at $5.2 billion. The agency secured main funding in a number of rounds this 12 months, together with a $300 million increase in March and a $120 million spherical in February.
