Blockchain.com claims that it has become the largest cryptocurrency platform in Latin America following its acquisition of Argentine company SeSocio.
“With its largest acquisition to date, Blockchain.com is accelerating its rapid growth in Latin America, armed with a team committed to the adoption of crypto across the continent,” the company said in a statement. Press release Tuesday (November 30).
Meanwhile, Blockchain.com has announced plans to open offices in Argentina, Brazil, Colombia, Mexico and Chile, and will conduct local recruitments. The company will add the 100 members of the SeSocio team to its employee roles, bringing its total workforce worldwide to 400.
Blockchain.com says this expansion will focus on better access to the region’s unbanked and underbanked customers.
“Latin America presents one of the greatest opportunities for crypto growth over the next decade”, Pierre Smith, the CEO of Blockchain.com said in the announcement. “Millions have already seen inflation at its worst, new currencies are emerging from nowhere 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.”
Read more: Unbanked segments become a priority for payment companies
The company argues that crypto provides “safe and easy access” to financial services to more than 200 million unbanked people in Latin America, allowing them to pay for daily services such as e-commerce purchases and subscriptions.
“We are extremely proud of what we have been able to build in the Latin American market and the growth we have experienced as a company so far,” said Guido Quarantine, co-founder and CEO of SeSocio. “I am convinced that SeSocio will flourish in this next chapter of our journey. With Blockchain.com, we will usher in a new era of increased crypto accessibility in Latin America and beyond. “
Read more: Blockchain.com acquires AiX
The acquisition follows May’s announcement of Blockchain.com’s acquisition of AiX as part of an effort to expand its institutional offering.
AiX is the creator of an artificial intelligence-powered trading and matching engine used by institutional OTC traders, and has team members who have worked for JP Morgan and Goldman Sachs.