Ledn to acquire Arxnovum Investments to run asset management subsidiary
Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Ledn to acquire Arxnovum Investments, a fully-registered, Canadian digital asset investment manager
Ledn | Release | Oct 6, 2022
Ledn to acquire Arxnovum Investments to run asset management subsidiary
- TORONTO, Oct. 6, 2022 /PRNewswire/ - Ledn Inc. ("Ledn"), a global financial services provider for digital assets, is pleased to announce that it has reached an agreement to acquire Arxnovum Investments Inc. ("Arxnovum"), a regulated Canadian digital asset investment manager.
- The proposed acquisition will allow Arxnovum's fully-registered business to operate as an independent business unit under Ledn, enabling Ledn to offer digital asset investment products to its accredited client base both in Canada and globally.
- The transaction is expected to close in the fourth quarter of 2022, subject to regulatory approval.
See: Ledn secures $70 million in Series B funding; Announces world’s first Bitcoin-backed mortgage product
- Arxnovum:
- Arxnovum was founded in 2021 by Shaun Cumby and operates as a digital asset investment manager offering investors active and passive strategies to gain exposure to digital assets.
- It is registered with certain securities regulatory authorities in Canada as an Investment Fund Manager ("IFM"), Portfolio Manager ("PM"), Commodity Trading Manager ("CTM") and Exempt Market Dealer ("EMD").
Adam Reeds, Co-founder and CEO of Ledn:
The recent turmoil in the industry emphasized that not all digital asset lenders are created equal and regulation is key to building trust and transparency among customers. While many of our peers suffered losses recently, Ledn continues to drive growth, emerging as a global leader in digital asset financial services, including lending and savings products. With this acquisition, Ledn will become the first digital asset lender to offer yield fund products under the exempt market dealer registration. It will also allow us to offer more investment opportunities to accredited clients in markets that recognize Canadian securities regulations, to increase their digital asset holdings.
See: Bitbuy to Offer Stock Trading to Its Users
Shawn Cumby, Founder and CEO of Arxnovum:
I am excited to build and expand access to digital asset investments with Ledn while continuing to work with my great business partner, Tanvir Sodhi. We look forward to combining our expertise with Ledn's market reach, operational capabilities and robust risk management practices.
View the original release --> here
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