Last Updated: October 12, 2023
• Capitual, a Brazilian fintech company that offers cryptocurrency intermediation services, has partnered with Azimut, an asset management firm, to expand its service offer to Europe.
• The deal includes an investment of €15 million (about $16.2 million) and would allow Capitual to start operating in Mexico, where Azimut has significant presence and operations.
• Customers of the firm include several exchanges like Kucoin, Huobi, and Bitget, that trust the company to route its payments and withdrawals using Brazil’s traditional banking system.
Capitual Partners With Azimut
Capitual, a Brazilian fintech company that offers cryptocurrency intermediation services, has partnered with Azimut, an asset management firm based in Italy. The deal contemplates an investment of €15 million (about $16.2 million), which would allow Capitual to start operating in Mexico, where Azimut has significant presence and operations.
Crypto Services Expansion
The partnership between the two companies aims to complement each other’s activities and expand their services into European markets. With this expansion they also plan on offering their services in Mexico as well as tokenization of assets and crypto investment management from Sygnum Bank.
Capitual’s Customers
The customers of Capitual include several exchanges like Kucoin, Huobi and Bitget who trust the company to route their payments and withdrawals using Brazil’s traditional banking system. Guilherme Nunes executive director of Capitual says “We want to replicate the product we have in Brazil in other countries serving our partners in other jurisdictions as well”.
Azimut’s Contribution
Giorgio Medda CEO of resource management at Azimut stated “We are convinced that blockchain technology is redrawing the frontier of the financial services industry as we know it” regarding their contribution towards this agreement with Capitua.
Conclusion
In conclusion this partnership between Fintech Company Capitula and Asset Management Firm Azimut will allow them both to expand their offerings into European Markets while taking advantage of each other’s expertise within legacy finance as well as blockchain technology making them more competitive within these new markets
