Blockchain.com buys Latin American platform SeSocio
by: Dynasty GI2021-12-06
Crypto platform Blockchain.com has acquired SeSocio, the Argentina-based crypto investment platform, to help drive its growth amibitions in Latin America. Although details of the deal were not disclosed, specialist site The Block says the purchase cost ‘hundreds of millions of dollars’.
In its formal announcement, Blockchain.com stated this is their largest acquisition so far and that it will open up new routes for crypto savings and asset management services in Latin America, with plans to have offices in Argentina, Brazil and Colombia. Earlier this year, Blockchain.com completed a US$ 300 million funding round, valuing the business at US$ 5.2 billion. With the acquisition, Blockchain.com plans to leverage the existing business network set up by SeSocio to offer access to crypto savings and investment products in South America.
"There is considerable interest in cryptos in Latin America, one of the reasons that informed our decision at Dynasty to open a base in Sao Paulo, the region’s financial powerhouse, in addition to our headquarters in Switzerland. We are likely to see more moves like Blockchain.com’s with more global players eyeing the main markets in the region."
Said the CEO and founder of Dynasty Global Investments AG, Eduardo Carvalho.