Most significant Latin American crypto acquisition to date
BUENOS AIRES, Argentina, Nov. 30, 2021 /PRNewswire/ -- Blockchain.com, one of the world's oldest and most trusted cryptocurrency platforms, has acquired SeSocio, one of the largest crypto companies in Argentina and one of the most prolific across Latin America. With its largest acquisition to date, Blockchain.com accelerates its rapidly growing footprint across Latin America, armed with a team committed to crypto adoption across the continent.
Already a crypto leader in Argentina, Brazil, Chile, Colombia, and Mexico, Blockchain.com will launch its physical presence in the countries, by opening offices and local hiring. Blockchain.com will also welcome SeSocio's 100 employees into its ranks, immediately bringing its global headcount to 400. Together, the teams will focus on making it easier for unbanked, underbanked and crypto-forward customers to gain access to Blockchain.com's global influence and reach.
"Latin America presents one of the largest growth opportunities in crypto over the coming decade," said Peter Smith, Blockchain.com CEO. "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."
With more than 200 million unbanked individuals in Latin America, crypto provides safe and easy access to financial services. In addition, the concept of storing wealth outside of a country's fiat currency is well understood in the continent. Without full credit card penetration, there's an opportunity for a mobile financial app built on crypto to be the first financial product for most people. And as a more stable form of currency, crypto provides Latin American users the ability to pay for everyday services with crypto, including digital subscriptions, e-commerce, and more.
"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," said Guido Quaranta, SeSocio co-founder and CEO. "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."
The acquisition is the latest move from Blockchain.com as it continues strategic global growth, following previous acquisitions this year including artificial intelligence firm AiX, machine learning investment firm Magic Carpet, and consumer startup Storm Inc. Blockchain.com offers 37 million verified users across more than 200 countries the opportunity to monitor, buy, sell, trade, and store crypto.
Blockchain.com is connecting the world to the future of finance. The London and Miami-based company, with an international team spread across the world, is the most trusted and fastest growing crypto company, helping millions across the globe safely access cryptocurrency. Venture backed since 2014, Blockchain.com has raised $537M of equity capital most recently at a $5.2B valuation. Visit Blockchain.com for more info, follow us on Twitter @blockchain, check out The Blockchain.com Podcast, and read our blog for the latest company news.
SeSocio.com is a personal finance application founded by Guido Quaranta and Gastón Krasny, based in Buenos Aires, Argentina, with customers across Argentina, Chile, Colombia, Mexico, and Peru. Founded in 2017, the first blockchain-based regional investment platform allows consumers to save, invest, and manage money all in one spot. Users have access to the crypto and DeFi worlds with a SeSocio card, simplifying transactions daily. For more information, visit sesocio.com for more info or follow us on Instagram @sesociocom and Twitter @sesociocom.
Brooks Wallace, Blockchain.com Head of Communications
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