Blockchain.com Plans Aggressive Workforce Expansion and Market Entry

Leading company in the blockchain and cryptocurrency field, Blockchain.com, plans to start a big growth strategy with the goal of hiring 25% more people by the beginning of 2024. This action is a component of the business’s larger strategy to penetrate new markets, such as Turkey and Nigeria.

Blockchain.com has engaged Curtis Ting, who was Kraken’s former head of global operations, to spearhead this growth push. Establishing a new center in Paris and strategically putting the business in the European market will be Ting’s main duties. Although Blockchain.com has historically based its European operations in London, the move aims to increase the company’s geographic reach throughout the continent.

Local Entities and Regulatory Compliance

The CEO of Blockchain.com, Peter Smith, reaffirmed the company’s dedication to following all applicable laws and plans to apply for further regional licenses. This strategy fits with the company’s goal of respecting local legal frameworks and promoting confidence between the public and government. An essential component of this growth will be the establishment of regional organizations throughout Europe and beyond.

The move by Blockchain.com to enter regions like Nigeria and Turkey is significant for the cryptocurrency sector, which is now rebounding after a difficult phase. The company’s action is indicative of a calculated attempt to enter developing areas with substantial room for expansion.

Blockchain.com has raised $110 million in series E strategic funding transaction to support its development goals. Leading the fundraising was Kingsway Capital, a U.K.-based corporation, indicating investor confidence in the strategic future of the company. Even if the company’s valuation was reduced in the most recent fundraising round to less than half of its high, which was $14 billion in early 2022, it still provides the financial support required for the impending expansion.

The aggressive expansion of Blockchain.com’s workforce and its recent market launch into Nigeria and Turkey demonstrate the company’s proactive strategy to take advantage of the rapidly changing blockchain and cryptocurrency landscape.