Blockchain.com 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.
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.