Blockchain.com will increase its workforce by a quarter in early 2024, strategically moving into new markets such as Nigeria and Turkey.
To spearhead the expansion, the company has appointed Curtis Ting, formerly Kraken’s head of global operations. Ting’s primary role will be establishing the company’s new Paris hub and forming localized entities across Europe. Blockchain.com’s European operations are centralized in London, but the expansion will diversify its presence across the continent.
Blockchain.com CEO Peter Smith revealed in a recent interview with Bloomberg the company’s intentions to pursue additional local licenses, further cementing its compliance with regional regulatory frameworks.
Blockchain.com currently has approximately 300 employees, which will substantially increase with its expansion to Nigeria and Turkey. This decision comes when the crypto industry is actively recovering from the crypto winter.
The company recently secured $110 million in a series E strategic financing round led by U.K.-based Kingsway Capital. This investment round has adjusted the company’s valuation to less than half its peak of $14 billion in early 2022.