01 December 2021 15:50, UTC
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Exchange and cryptocurrency wallet provider Blockchain.com has announced the purchase of Argentine cryptocurrency company SeSocio to expand its presence in Latin America.
The amount of the deal was not disclosed, but Blockchain.com called it “the largest acquisition to date.”
SeSocio, a blockchain platform founded in 2017 in Buenos Aires, enables users to invest in cryptocurrencies and provides access to the ecosystem DeFi… At the time of writing, her site is already operating under the Blockchain.com logo.
100 employees of the Argentinean firm will join the exchange team, the total number of its staff will reach 400 people.
Blockchain.com also plans to open offices in Argentina, Brazil, Chile, Colombia and Mexico.
“Latin America presents one of the largest growth opportunities for the crypto industry in the coming decade. Millions of people saw severe inflation, new fiat currencies appeared out of thin air, and political instability was observed. All of this has created a favorable environment for cryptocurrencies, ”said Peter Smith, CEO of Blockchain.com.
The company noted that it will continue its strategic growth, including through acquisitions. Blockchain.com previously acquired AI OTC trading provider Artificial Intelligence Exchange, Magic Carpet investment company and Storm startup.
As a reminder, in March Blockchain.com raised $ 300 million in a Series C funding round, following which it reached an estimate of $ 5.2 billion.
During the round, $ 100 million was invested in the company by the asset manager of Baillie Gifford. Known as one of the earliest investors in Google, Tesla and Airbnb, the Scotland-based firm has become the largest third-party shareholder in Blockchain.com.
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