Azimut, one of the leading independent asset managers in Europe with total assets of approximately USD 86 billion, serves clients in 18 countries worldwide, will participate as lead investor in the EUR 15 million capital increase in Capital to finance international expansion.
Capital is a Brazilian fintech that works as a bridge between cryptocurrencies and traditional finance, serving digital asset exchanges, private investors and companies.
Operating since 2019, Capital serves 9 of the most recognized and consolidated cryptocurrency brokerages in Brazil and more than 4.5 million digital currency clients, with an average monthly transaction volume of almost USD 1 billion.
Capital’s solutions leverage a proprietary approach to regulatory compliance (KYC and AML) and cyber-attack risk, ensuring the highest regulatory and security standards in both the traditional and crypto markets.
Awarded as the Best Cryptocurrency Bank in Brazil in 2022 by the Crypto Awards, Capital envisions itself as a leader in the growing digital asset industry and plans to expand its business beyond Brazil, starting with Europe and Mexico.
International digital exchanges already clients of Capital in Brazil are waiting for Capital to be operational outside Brazil to renew their contracts.
Capital participated in the LIFT Challenge Real Digital and developed one of 9 CBDC projects chosen by the Central Bank of Brazil to run Real Digital.
Digital currencies such as central bank digital currencies (CBDCs) and stablecoins represent the natural evolution of today’s money and payment methods.
Currently, the central banks of 114 countries are already exploring the possibilities of this technology, while 11 countries have already launched their CBDCs.
international expansion
In addition to expanding Capital’s business, the collaboration between the two groups will enable Capitual to leverage Azimut’s already European-based Fintech ecosystem and provide Azimut with solid technology in decentralized finance capable of fluent and interact reliably with the traditional investment world.
Giorgio Medda, CEO and Global Head of Asset Management & Fintech at Azimut Group, stated:
“Azimut has been a pioneer in the adoption of new technologies in asset management and has supported several fintech initiatives in Europe with strategic capital. As a global asset manager, we believe the empowerment of blockchain technology for decentralized finance is pushing the boundaries for financial services as we know it. We strongly believe that infrastructure providers like Capital, which provide payment and management systems, cloud storage and custody, cybersecurity and smartphone access to digital asset portfolios, are the ones that will seize the biggest revenue opportunities as markets evolve. We intend to support Capital in its growth phase with a fundraising project through a club deal that follows similar initiatives led by the Group and provides an investment opportunity in the fundamental value being brought to the new paradigms of financial services.”
Guilherme Nunes, CEO of Capital, stated:
“Capital is able to turn banking services into intelligent processes, work with crypto-assets and traditional currencies, contribute to high performance in the financial sector using innovative technologies related to blockchain, provide flexibility, productivity and efficiency of services. democratizing access for people and businesses through a next-generation payment platform. We are very excited to leverage the new partnership with Grupo Azimut and expand our business internationally.”
azimuth
Azimut is one of Europe’s leading independent groups active (since 1989) in the asset management industry. Parent company Azimut Holding was listed on the Italian stock exchange (AZM.MI) on 7 July 2004 and is a member of the Italian main index FTSE MIB.
The ownership structure includes more than 1,900 managers, employees and financial advisors bound by a shareholder agreement that owns approximately 22% of the company. The rest is free float.
The Group consists of several companies active in the sale, management and distribution of financial and insurance products, with headquarters mainly in Italy, Australia, Brazil, Chile, China (Hong Kong and Shanghai), Egypt, Ireland, Luxembourg, Mexico , Monaco, Portugal, Singapore, Switzerland, Taiwan, Turkey, United Arab Emirates and USA.
In Italy, Azimut Capital Management sells and manages SGR Italian funds, Italian alternative investment funds, in addition to the discretionary management of individual investment portfolios.
In addition, Azimut Capital Management distributes SGR Group and third-party products in Italy through a network of financial advisors, while Azimut Libera Impresa focuses on alternative activities. The main foreign companies are Azimut Investments SA (founded in Luxembourg in 1999), which manages the multi-strategy funds AZ Fund 1 and AZ Multi Asset, and the Irish company Azimut Life DAC, which offers life insurance products.
capital
Capitual, one of the fastest growing digital banks in Brazil, operating since 2019, offers a wide range of services (CappSettle, CapPay, CapAccount, CapBusiness, CapCards, CapATMs, etc.) in the digital asset economy.
The founders have extensive experience in Distributed Ledger Technology (DLT), programming and international currency markets and together with a team of more than 80 people, they have developed one of the most respected and complete digital asset ecosystems in Brazil.
The company has offices in Brazil, Mexico and Portugal and plans to operate globally. For more information about Capital, please visit: www.capital.com
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
