Blockchain.com raised $300m in March and its post-valuation jumped to $5.2 Billion. Blockchain.com’s CFO Macrina Kgil spoke about the company’s $1 trillion worth of cryptocurrency transactions. Kgil also revealed that Blockchain.com had BTC as well as Ethereum on its balance sheets. The crypto company was founded by Nicolas Cary and Benjamin Reeves in 2011. On Tuesday, described that they have acquired the Latin American crypto investment platform .
Blockchain.com stated that the company has made an impact in Brazil, Chile and Colombia. Blockchain.com is similar to the Coinbase announcement that said Unbound Security’s acquisition would result in a presence in Israel. It also notes that there will be a physical presence’ in Latin American countries through local opening of offices and hiring. In its announcement, the Luxembourg-based company stated that their goal is to make cryptocurrency solutions more accessible and easier for the unbanked.
In a statement, Peter Smith, Blockchain.com CEO, stated that Latin America offers one of the greatest growth opportunities in crypto in the next decade. “Millions of people have seen inflation at its worst and new currencies emerge from thin air. They also experienced political instability, which created a favorable climate for crypto. Smith said that the Sesocio team aims to give every Latin American access to a global cryptocurrency platform.
The acquisition of Blockchain.com follows the deal the company made with Griid Infrastructure, a bitcoin mining firm. Griid stated to the media that it had secured a $525m credit facility from Blockchain.com on November 23. Blockchain.com also acquired Storm Inc., an investment firm Magic Carpet and Aix, a consumer startup.
Guido Quaranta (Sesocio’s CEO and co-founder) said that they are proud of the achievements in Latin America and the business growth. “I am confident that Sesocio can thrive in the next chapter of this journey. We will create a new era of crypto accessibility in Latin America, and beyond, together with Blockchain.com.