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After Setting Up in Miami, Blockchain Moves to Further Dominate Latin America

Blockchain, the granddaddy of cryptocurrency platforms, has acquired Buenos Aires-based SeSocio, one of the largest crypto companies in Argentina and one of the most prolific across Latin America. With its largest acquisition to date, Blockchain, which made headlines last summer when it announced it was opening its U.S. headquarters in Miami, is accelerating its rapidly growing footprint across Latin America, armed with a team committed to crypto adoption across the continent. Venture-backed since 2014, Blockchain has raised $537 million of equity capital, most recently at a $5.2 billion valuation.

Already a crypto leader in Argentina, Brazil, Chile, Colombia and Mexico, Blockchain will launch its physical presence in those countries, by opening offices and hiring locally. The moves make perfect sense, with Miami—widely regarded as the capital of Latin America—as the gateway to South America. Blockchain will also welcome SeSocio’s 100 employees into its ranks, immediately bringing its global headcount to 400. Together, the teams will focus on making it easier for unbanked, underbanked and crypto-forward customers to gain access to Blockchain’s global influence and reach. “Latin America presents one of the largest growth opportunities in crypto over the coming decade,” says Peter Smith, Blockchain’s CEO. “Millions have already seen inflation at its worst, new currencies emerge out of thin air, 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.”

With more than 200 million unbanked individuals in Latin America, crypto provides safe and easy access to financial services. In addition, the concept of storing wealth outside of a country’s fiat currency is well understood on the continent. Without full credit card penetration, there’s an opportunity for a mobile financial app built on crypto to be the first financial product for most people. And as a more stable form of currency, crypto provides Latin American users the ability to pay for everyday services with crypto, including digital subscriptions, e-commerce, and more. “We’re extremely proud of what we’ve been able to build in the Latin America market and the growth we’ve seen as a business thus far,” says Guido Quaranta, SeSocio’s co-founder and CEO. “I am confident that SeSocio will thrive in this next chapter of our journey. Together with Blockchain, we will pioneer a new age of increased crypto accessibility in Latin America and beyond.”

The acquisition is the latest move from Blockchain as it continues strategic global growth, following previous acquisitions this year including artificial intelligence firm AiX, machine learning investment firm Magic Carpet, and consumer startup Storm Inc. Blockchain offers 37 million verified users across more than 200 countries the opportunity to monitor, buy, sell, trade and store crypto.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.