Brazilian Fintech Company Capitual Partners With Azimut to Offer Crypto Services in European Markets

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Capital, a Brazilian fintech company providing cryptocurrency arbitrage services, has partnered with asset management firm Azimut to expand its service offering to Europe. The deal, which contemplates an investment of €15 million (approximately $16.2 million), will allow Capital to begin operations in Mexico, where Azimut has a significant presence and operations.

Capital receives €15 million investment from Azimut

Fintech companies serving the cryptocurrency market are starting to attract the attention of more traditional asset management firms. Capital, a fintech company that serves as a bridge to legacy finance for several crypto exchanges in Brazil, has completed a partnership deal with Azimut, an Italian asset management firm. The deal, which includes an investment of €15 million (about $16.2 million), will allow the company to expand its services to European countries.

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Vistara will also look to establish Capital’s presence in Mexico and offer its services there. The firm’s clients include several exchanges such as KuCoin, Huobi and BitGate, which rely on the company to route their payments and withdrawals using Brazil’s traditional banking system.

Regarding the goal that the company seeks to achieve with this expansion, Guilherme Nunes, Executive Director of Capital, said:

We want to replicate the product we have in Brazil in other countries, as well as serve our partners in other jurisdictions. The idea is to become the center of blockchain technology in these markets.

contribution of azimuth

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The two companies aim to complement each other’s activities, with Azimut leveraging the company’s expertise in dealing with cryptocurrency and blockchain, and capitalizing on Azimut’s know-how in traditional finance and regulatory compliance in these new markets.

Azimut’s interest in blockchain is not new, as the firm was one of the first to launch a blockchain-based security tool in 2021 with the backing of Sygnum Bank. Now, the company is looking to bring a range of blockchain tools to Brazil, including asset tokenization and crypto investment management, hand in hand with Capital. On this issue, Giorgio Medda, CEO of Azimut in the resource management and fintech sector, Said Earth:

We are convinced that blockchain technology is redefining the boundaries of the financial services industry as we know it.

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With this capital injection, Capital’s valuation has reached €302 million (about $327 million), putting it closer to its goal of becoming a Brazilian unicorn. The suspension of withdrawals back in June 2022 was due to the exchange announcing that it was taking legal action against the company, unless the company was a Binance partner in Brazil.

What do you think about the partnership between Capital and Azimut? Tell us in the comments section below.

disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services or companies. Does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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