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, which contemplates an investment of €15 million (about $16.2 million), would allow Capitual to start operating in Mexico, where Azimut has significant presence and operations.

Fintech companies serving the cryptocurrency market have started grabbing the attention of more traditional asset management firms. Capitual, 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 extend its services to European countries.

The expansion would also contemplate Capitual establishing presence in Mexico and offering its services there. 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.

(By Sergio Goschenko)