The crypto heat is on: Blockchain.com approved for trading in Florida

The crypto heat is on: Blockchain.com approved for trading in Florida

Blockchain.com, a global  cryptocurrency exchange, announced Wednesday it had received a money transmitter license from the state of Florida. This means Florida residents can now legally buy and sell Bitcoin and other cryptocurrencies on its platform.

In a statement, Miami Mayor Francis Suarez said: “While the Miami Movement is all about building a city that lasts forever and works for everyone, it has stretched far beyond Miami. I commend Blockchain.com for opening up its products so all 22 million Florida residents can now trade crypto, putting financial independence at our fingertips.”

The London-based company announced in  early June it would be moving its US headquarters from New York City to Miami, making it one of the early movers in what has been a movement to form a Crypto Capital in the Magic City. “Florida is one of the most business friendly and tax friendly states in the US, so that’s first and foremost, and it’s also a prime location for innovation, including a very welcoming regulatory environment, which was a huge consideration for us,” said Brooks Wallace, Head of Communications for Blockchain.com, about the company’s decision.

CEO Peter Smith, who made the announcement with Mayor Suarez, said in June that Blockchain.com plans to hire 100 full-time employees by the end of 2021, and about 200 more in 2022. How’s it going?  “We’re cruising toward those goals at a nice clip,” Wallace  said on Thursday. “Miami is an amazing hotspot for recruiting, which we are doing a lot of.”

Here’s the update: Blockchain.com, now a team of about 200 globally, is looking to fill more than 70 open roles in the Miami at this time, including engineering, data science, compliance, customer success, marketing, and product. Globally, the company has 125 open roles, Wallace said.

A new Miami-specific Careers page is now available on its website. 

The team is in a temporary office in Brickell now but is planning to build out a much bigger office for its expanding team. As it further integrates into the Miami community, the company  plans to  support local STEM programming, with announcements on that front ahead, Wallace said.

Blockchain.com has a $5B post-money valuation and has raised nearly $500 million in venture funding. The company has 32 million verified users in over 200 countries using its products, including its popular non-custodial Wallet, the fastest Exchange for trading, a block Explorer to check transactions, and an Institutional Markets business.

Blockchain.com led off a string of announcements about relocations and new offices in the crypto space. Also in June, crypto trading platforms  eToro  and FTX also announced Miami expansions, and Blockchain-focused venture capital group Borderless Capital said it would be moving its HQ to Miami and launch a $25 million fund. More recently, finance group BlockTower Capital announced it would be moving its entire team from New York to Brickell. And yesterday, Okcoin announced that the crypto exchange would be putting one of its seven offices in Miami.

“As a hub for innovation, cybersecurity and fintech, Miami-Dade is a natural fit for Blockchain.com,” said Michael A. Finney, President and CEO of the Miami-Dade Beacon Council. “Our international business community offers the talent, partners and global connectivity that companies depend on for continued growth. We support Blockchain.com’s efforts to bring more crypto trading availability to Florida residents, and count on the high value, high growth jobs they bring to our community.”

This story was updated Aug. 26, 2021. Follow @ndahlberg on Twitter and email her at [email protected]

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