The crypto lending platform Ledn announced that it has reached an agreement to acquire Arxnovum

According to Chain Catcher news and reported by PR Newswire, the crypto lending platform Ledn has announced that it has reached an agreement to acquire the Canadian digital asset investment management company Arxnovum. The acquisition will allow Arxnovum's business to operate as an independent business unit under Ledn, enabling Ledn to offer digital asset investment products to its client base in Canada and globally. The transaction is expected to be completed in the fourth quarter of 2022, pending regulatory approval.

It is reported that at the end of last year, Ledn announced the completion of a $70 million Series B funding round at a valuation of $540 million, led by 10T Holdings, with participation from institutions such as Golden Tree Asset Management, Raptor Group, FJ Labs, and other angel investors.

Arxnovum was founded by Shaun Cumby in 2021, who played a key role in a landmark decision with the Ontario Securities Commission ("OSC") at the end of 2019, which opened the regulatory door for publicly available digital asset funds in Canada. (Source link)