Brazilian Crypto Company Moves Into European Markets With New Partnership

The firm will also be receiving a 15 million euro investment from Azimut to assist in its expansion efforts

article-image

marchello74/Shutterstock.com modified by Blockworks

share

Capitual, a multicurrency digital bank that offers cryptocurrencies in Brazil, has partnered with Azimut to expand its services to various European countries and Mexico.

The Brazilian company that offers fiat on-ramp services is the point of entry into its country for many sizeable global cryptocurrency exchanges, including Kucoin, Huobi and Bitget, but this latest partnership will finally allow the company to offer its services internationally.

“We want to replicate the product we have in Brazil in other countries, serving our partners in other jurisdictions as well,” Guilherme Nunes, chief executive of Capitual, told Valor Econômico, a news company based in Brazil. “The idea is to become a center of blockchain technology in these markets,” he added.

Azimut will also invest 15 million euros ($16.1 million) into Capitual to assist with its expansion ambitions. This latest funding will bring Capitual’s valuation to 302 million euros, edging it closer to unicorn status in Brazil.

The asset management firm has always had an interest in cryptocurrencies. In September 2021, it launched a $75 million venture fund with SBI Group and Sygnum to invest in early-stage startups working on decentralized finance DeFi, blockchain and distributed ledger technology (DLT) infrastructure projects.

Giorgio Medda, the CEO of Azimut, noted on LinkedIn that this latest partnership reflects the firm’s belief that blockchain technology will eventually change the financial services industry as we know it. 

“The partnership with Capitual focuses on the technology built to ensure protection and compliance in the infrastructure embedding the disruptive changes which are forming new business paradigms in our industry,” Medda said.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

recent research

Research Report Templates.png

Research

An overview of the Base Ecosystem, with a focus on market leaders.

article-image

Although bitcoin hitting $120k by year’s end is looking unlikely

article-image

About 270 million HYPE has been claimed, valued around $7.6 billion

article-image

Stanford professors David Mazières and Dan Boneh will lead the lab alongside a cohort of graduate student researchers

article-image

With more companies holding BTC, bitcoin yielding strategies could become “a new corporate finance norm,” CoinShares posed

article-image

The proposal comes after Polygon governance considered a controversial use of bridged liquidity for yield

article-image

Can the community balance its decentralized ethos with the need for inclusivity and constructive debate?