In early 2024, Blockchain.com plans to add a quarter to its workforce as part of a strategic expansion into new areas, including Nigeria and Turkey.
The company appointed Curtis Ting, previously Kraken’s chief of worldwide operations, to lead the growth. Ting’s main responsibilities will be to build localized organizations throughout Europe and establish the company’s new Paris base.
London is the hub for Blockchain.com’s European operations, but the extension will broaden the company’s reach throughout the region.
Blockchain.com in a recent interview with Bloomberg, CEO Peter Smith announced the company’s plans to apply for more local licenses, strengthening its adherence to local regulatory systems.
Blockchain.com employs about 300 people; this number will rise significantly when it expands into Nigeria and Turkey. At a time when the cryptocurrency market is aggressively recuperating from the crypto winter, this choice is made.
Recently, the business raised $110 million in a series E strategic fundraising transaction headed by Kingsway Capital, based in the United Kingdom. This financing round has reduced the company’s valuation to less than half of its early 2022 peak of $14 billion.
