Crypto Milled – Blockchain.com announces office in Brazil and purchase of Argentine crypto platform – News
Cryptocurrency wallet and services provider Blockchain.com is implementing its plans to expand into Latin America.
Headquartered in Miami and London, the company announced that it will open an office in São Paulo in the coming months. The objective is to consolidate its presence in Brazil, where it has been operating for two years.
In addition, Blockchain.com has just formalized the purchase of the Argentinian cryptocurrency platform SeSocio. The acquisition is part of its expansion strategy, which will include the opening of an office also in the neighboring country.
In addition to Brazil and Argentina, Blockchain.com is also eyeing the markets of Peru, Chile, Colombia and Mexico.
Expansion to Latin America
In an interview with the newspaper O GLOBO, the business director (CBO) of Blockchain.com, Lane Kasselman, informed that the São Paulo office will be the first in the country.
However, the organization did not rule out the possibility of opening others in the country in the future. Kasselman also said that the initial idea is for the office to have 10 employees.
“Brazil is one of the largest crypto markets in the world and is also an economic engine for Latin America. It is a very important market for us. We have a lot of Brazilian clients on Blockchain.com and we wanted to build a physical presence so we could grow our base even more, but we needed help with that. The acquisition was our first step to grow rapidly in Latin America. The next one is the opening of an office in Brazil”, revealed the executive in an interview with GLOBO.
Cryptocurrencies to the unbanked
In Latin America, Blockchain.com plans to take the cryptocurrencies to the unbanked, which, according to Kasselman, are more than 200 million.
The executive believes that digital assets can help this part of the population to access, in addition to financial services, platforms such as Netflix and Spotify.
At the same time, cryptocurrencies can help with the problem of instability in the currencies of these countries:
“Some countries in Latin America have unstable currencies. And cryptocurrencies, in that case, can be much more stable. Also, many people send money to family members in other countries. But that’s hard to do in today’s banking system. Crypto makes this much easier”, he pointed out.
financial education
Faced with the difficulties of inserting people who are not even used to the traditional market in the crypto market, Kasselman stressed that Blockchain.com’s strategy will be to invest in financial education to reduce the risk of scams:
“We offer several cryptocurrencies, whether Bitcoin, Ethereum or Solana. But before they are made available to clients, we carry out an extensive legal, regulatory and compliance review process to make sure that asset is safe. We tend to be a little slow in our analysis compared to other platforms. But we do this so that the process is safer”, clarified Kasselman.
Currently, Blockckchain.com has more than 37 million users and 77 million wallets. In operation since 2011, the platform is present in over 200 countries and has traded more than R$1 trillion in cryptocurrencies.
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