Blockchain.com Expands in Latin America by Acquiring SeSocio

Popular crypto wallet and data service Blockchain.com has acquired crypto firm SeSocio. It aims to expand its presence in Latin America. It is unknown what amount was involved in the deal.


Merger of both companies

Today, SeSocio is already one of the largest investment platforms in Latin America. By merging with Blockchain.com now, the company aims to increase its capacity to scale even further. The company announced the merger via a blog post on their own website. SeSocio is based in Argentina.

As a result of the merger, 0 of SeSocio’s 100 employees will be laid off. They will join the team at Blockchain.com, increasing their global workforce to 400.


Providing financial services

The companies want to jointly focus on providing crypto-related financial services to people who are not affiliated with a bank. This will not be specific to Argentina, but also to the other countries in which Blockchain.com is active. This includes Brazil, Chile, Colombia and Mexico.

Although it has not been specifically disclosed what amount of money is involved with the deal, according to SeSocio’s announcement, it would be the “biggest acquisition” of Blockchain.com to date.


Huge opportunity to grow

Through SeSocio, users can buy, hold and manage their investments, including cryptocurrencies. More than 45 cryptos are now supported on the platform, which may be expanded further in the future.

According to Blockchain.com CEO Peter Smith, Latin America offers a huge opportunity in terms of growth opportunities in the coming decade. He says the following about this:

“Millions have already seen inflation at its worst, new currencies appearing out of nowhere and experiencing political instability, creating a favorable environment for crypto.”

Blockchain.com has acquired several companies over the years. For example, it acquired the AI ​​company AiX earlier this year. With this new acquisition, it continues its global expansion ambitions. Blockchain.com has since grown into one of the largest players in the global crypto industry and is valued at more than $5 billion. It is still unknown exactly what the next step of the company will be.

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