To lead the company's expansion initiative, Curtis Ting, formerly the head of global operations at Kraken, has been appointed. Ting will play a crucial role in establishing the new Paris hub and creating localized entities across Europe. While Blockchain.com's European operations have been centralized in London, this expansion marks a strategic move to diversify its presence across the continent.
In a recent interview with Bloomberg, Blockchain.com CEO Peter Smith confidently shared the company's commitment to obtaining additional local licenses, solidifying its compliance with regional regulatory frameworks.
Currently boasting around 300 employees, Blockchain.com is poised for substantial growth as it expands its operations to Nigeria and Turkey. This strategic decision aligns with the ongoing recovery of the crypto industry from the recent crypto winter.
Highlighting the company's financial strength, Blockchain.com recently secured $110 million in a series E strategic financing round led by the U.K.-based Kingsway Capital. Despite a valuation adjustment to less than half its peak of $14 billion in early 2022, this investment underscores the company's confidence in its trajectory and future prospects.