cryptovibes.com
Top cryptocurrency services provider Blockchain.com has announced the acquisition of Argentinian crypto firm SeSocio. The company says the acquisition deal is part of its goal to expand its operations in Latin America.
The Largest Crypto Firm In Latin America
The deal has also made Blockchain.com the largest cryptocurrency company in the Latin American region. According to a joint statement credited to blockchain.com, the acquisition “is the most important purchase” by the company so far.
A close source to the acquisition deal who wants to stay anonymous stated that the deal is worth $120 million.
SeSocio was launched in 2017 by Gastón Krasny and Guido Quaranta. After the deal, the company will be merging with Blockchain.com, based in Miami and London.
Chief Executive Officer of SeSocio, Guido Quaranta, stated that both companies are complementary to each other. He stated that the firms will be pioneers in a new era that will provide massive access to cryptocurrencies in Latin America.
As a result of the acquisition, Blockchain has now added offices in Argentina, Mexico, Columbia, Chile, and Brazil. The company also retains SeSocio’s workforce, which brings its global personnel to 400.
Blockchain.Com To Offer More Crypto Exposure To The Region
Chief Executive Officer of Blockchain.com, Peter Smith, commented on the acquisition, saying that Latin America will offer one of the highest growth opportunities in the crypto world for the next 10 years.
He added that the political instability and high inflation levels have made fiat currencies too risky in the region. As a result, it provides an opportunity and a favorable environment for the cryptocurrency market to flourish.
Peter added that the goal of Blockchain.com is to provide the Latin American community-wide access to a global platform to operate cryptocurrencies.
He added that the firm is looking to offer every Latin American access to a global crypto platform.
Blockchain.com has been very serious about its expansion plans this year. Early this month, the company rolled out its crypto trading services in the state of Georgia, United States. It has already activated its services in New Mexico, Alaska, Florida, and other states. The crypto services firm has decided to expose its products to Latin Americans with the latest acquisition deal.