Main cryptocurrency pockets and information service Blockchain.com is increasing in Latin America by buying SeSocio, a significant crypto firm primarily based in Argentina.
One of many largest 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 workers will be a part of Blockchain.com, instantly bringing its world headcount to 400 folks.
Collectively, the corporations will concentrate on offering crypto-enabled monetary companies to the unbanked and underbanked not solely in Argentina but additionally different international locations 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 international locations by opening workplaces and hiring native expertise.
The businesses didn’t disclose the quantity of the acquisition. In keeping with the announcement, SeSocio is Blockchain.com’s “largest acquisition up to now.” 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 software that enables customers to purchase, maintain and handle their investments, together with crypto funding. In keeping 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 response to on-line sources.
In keeping with Blockchain.com CEO Peter Smith, Latin America has “one of many largest development alternatives over the approaching decade.” “Tens of millions have already seen inflation at its worst, new currencies emerge out of skinny air, and skilled political instability — creating a positive surroundings for crypto,” he noted.
The acquisition comes according to 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 among the largest firms within the crypto business, valued at $5.2 billion. The agency secured main funding in a number of rounds this 12 months, together with a $300 million raise in March and a $120 million round in February.