Blockchain.com becomes largest crypto company in Latin America
Blockchain.com has acquired SeSocio, one of the largest crypto companies in Argentina
Blockchain.com has acquired SeSocio, one of the largest crypto companies in Argentina, to make it the largest crypto company in Latin America.
Blockchain.com was founded in 2011 as a bitcoin blockchain explorer. The company was already a crypto leader in Argentina, Brazil, Chile, Colombia and Mexico, and following this acquisition, the company will launch its physical presence in the countries by opening offices and starting local hiring.
“Latin America presents one of the largest growth opportunities in crypto over the coming decade,” said Blockchain.com CEO Peter Smith. “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.”
A crypto solution for the unbanked?
In a news release on Tuesday, the crypto leader highlighted its priority to assist the more than 200 million unbanked adults in Latin America who do not have their own bank accounts, to give them “easy access to financial services” in the region.
Additionally, due to credit card penetration in Latin America, Blockchain.com believes there is an opportunity for a mobile financial app built on crypto to be the first financial product for most people.
Crypto.com, the world’s fastest-growing crypto platform, recently found that 40% of Latin Americans said they are interested in buying crypto in the near future.
Co-founder and CEO of SeSocio, Guido Quaranta, commenting on the partnership, said: “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. 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.”
Blockchain.com will also welcome SeSocio’s 100 employees into the company, making its global headcount 400.