SeSocio’s staff will join Blockchain.com, boosting the total number of employees to 400.
Blockchain.com, a prominent cryptocurrency wallet and data provider, has acquired SeSocio, a big crypto firm located in Argentina, as part of its Latin American expansion.
SeSocio, one of Latin America‘s largest investment platforms, will now unite with Blockchain.com to assist them to grow operations across the region, the company said Nov. 30. As part of the deal, 100 SeSocio workers will join Blockchain.com, raising the total number of staff to 400.
The companies will work together to provide crypto-enabled financial services to the unbanked and underbanked in Argentina, as well as other countries where Blockchain.com operates, such as Brazil, Chile, Colombia, and Mexico. The firm, which is located in the United Kingdom, is also looking to establish a physical presence in the nations by creating offices and employing local talent.
The purchase price was not disclosed by the firms. SeSocio is Blockchain.com’s “biggest purchase to date,” according to the release. Cointelegraph reached out to Blockchain.com for comment, but they did not react right away.
SeSocio is a personal financial app founded by Guido Quaranta and Gastón Krasny in 2017 that allows users to buy, hold, and manage their investments, including crypto investments. SeSocio supports approximately 45 cryptocurrencies, including Bitcoin (ETH) and Ether (ETH), according to the company’s website (ETH). According to internet sources, the company has raised over $11 million in numerous fundraising rounds.
Latin America offers “one of the greatest growth potentials over the future decade,” according to Blockchain.com CEO Peter Smith. “Millions have already witnessed the worst of inflation, new currencies appear out of nowhere, and political instability – creating a perfect climate for crypto,” he said.
The purchase fits in with Blockchain.com’s worldwide development plans, which began earlier this year with the acquisition of artificial intelligence startup AiX.
Blockchain.com, which began as a blockchain data source in 2011, is now one of the largest firms in the crypto industry, with a market capitalization of $5.2 billion. This year, the company raised significant funds in numerous rounds, including a $300 million investment in March and a $120 million round in February.
