Blockchain.com Acquires Argentine Crypto Platform SeSocio

Following its purchase of the Argentine startup SeSocio, Blockchain.com claims to have become the biggest cryptocurrency platform in Latin America. “With its biggest purchase to date, Blockchain.com accelerates its fast expanding presence throughout Latin America, equipped with a staff dedicated to crypto adoption across the continent,” the business stated in a press statement Tuesday (Nov. 30).

Meanwhile, Blockchain.com has announced intentions to create offices in Argentina, Brazil, Colombia, Mexico, and Chile, as well as to hire locally. The firm will hire 100 SeSocio team members, boosting its total global workforce to 400.

According to Blockchain.com, this expansion will concentrate on improving access to the region’s unbanked and underbanked consumers.

“Latin America represents one of the most significant growth prospects in crypto over the next decade,” stated Blockchain.com CEO Peter Smith in the announcement. “Millions have already seen the worst of inflation, the emergence of new currencies from thin air, and political instability, providing a good setting for cryptocurrency.”

“With the SeSocio team, we want to give access to a worldwide crypto platform to every Latin American.”

The organization claims that cryptocurrency gives “secure and simple access” to financial services for Latin America’s more than 200 million unbanked individuals, letting them to pay for common services like eCommerce purchases and subscriptions.

“We’re really pleased of what we’ve been able to develop in the Latin America market and the progress we’ve experienced as a company so far,” said SeSocio co-founder and CEO Guido Quaranta. “I am optimistic that SeSocio will flourish in the next chapter of our journey. We will usher in a new era of expanded crypto accessibility throughout Latin America and beyond in collaboration with Blockchain.com.”

This purchase comes on the heels of Blockchain.com’s announcement in May that it will buy AiX as part of an endeavour to extend its institutional offering. AiX is the developer of an artificial intelligence-powered negotiating and matching engine used by institutional over-the-counter traders, and its staff includes former J.P. Morgan and Goldman Sachs employees.