Evertec, a financial technology company based in Puerto Rico and present in 26 countries in Latin America and the Caribbean, completed the acquisition of 67% of Connecting Blocks Consultoria SA, which operates under the brand BBChain Tecnologia Blockchain. The transaction, which obtained approval from Brazil’s Administrative Council for Economic Defense (CADE), officially incorporates BBChain into Evertec’s portfolio and expands its capabilities in a segment of growing relevance to the regional financial market.
Founded in 2018 and headquartered in São Paulo, BBChain develops asset tokenization, digital custody and blockchain technology infrastructure solutions for financial institutions and Brazilian capital market participants. The company actively participates in regulatory initiatives and pilot programs promoted by entities in the financial sector, consolidating its presence in a highly regulated environment.
Brazil as an axis of regional expansion
The acquisition of BBChain is Evertec’s most recent move in Brazil, a market where the company has accelerated its expansion in recent years with the acquisitions of Sinqia, paySmart and Tecnobank. With BBChain, Evertec seeks to position itself as a comprehensive partner for financial institutions in investment funds, fixed income and credit. In addition, it hopes to open opportunities to replicate this model in other Latin American markets.
“The conclusion of this acquisition strengthens Evertec’s strategy to expand its presence in blockchain and digital assets in Brazil. This integration positions us as an integral player for financial institutions and opens important avenues to replicate this model throughout Latin America,” said Claudio Prado, executive vice president and director of operations of Evertec in Brazil.
