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Crypto Lending Firm Ledn to Acquire Canadian Fund Manager Arxnovum

October 11, 2022 by Robert Lewis Leave a Comment

Toronto-bassed crypto lending firm Ledn is acquiring Arxnovum Investments, a regulated Canadian digital asset investment manager. Terms of the deal weren’t disclosed.

Arxnovum will be renamed Ledn Asset Management and operate as an independent business unit, enabling Ledn to offer digital asset investment products to its accredited client base both in Canada and globally.

Arxnovum was founded in 2021 by Shaun Cumby, who was instrumental in the landmark decision with the Ontario Securities Commission (OSC) in late 2019, which opened the regulatory doors for publicly available digital assets funds in Canada.

“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,” said Adam Reeds, Co-founder and Chief Executive Officer of Ledn.

“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,” he concluded.

Today, Arxnovum 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, Portfolio Manager, Commodity Trading Manager and Exempt Market Dealer.

“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,” said Shaun Cumby, Founder and Chief Executive Officer of Arxnovum. “We look forward to combining our expertise with Ledn’s market reach, operational capabilities and robust risk management practices.”

Filed Under: News Tagged With: Arxnovum Investments, Ledn

 
 
 
 

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