Ledn to acquire Arxnovum Investments, a fully-registered, Canadian digital asset investment manager

"Ledn will become the first digital asset lender to offer yield fund products" - Adam Reeds, CEO and Co-founder of Ledn Inc.

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.

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. 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 ("IFM"), Portfolio Manager ("PM"), Commodity Trading Manager ("CTM") and Exempt Market Dealer ("EMD").

"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.

"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."

On completion of the Transaction, Arxnovum will become Ledn Asset Management Inc., the asset management subsidiary of Ledn.

About Ledn
Ledn is a financial services company building innovative products that bring our clients' digital assets to life. Ledn's suite of products consists of Save: bitcoin and USDC savings accounts that pays yield on bitcoin or USDC with no minimums, Borrow: bitcoin-backed loans which allows customers to access dollars without selling their bitcoin, B2X: bitcoin-backed loans to purchase more bitcoin, Trade: allowing clients to seamlessly exchange between Bitcoin and USDC - and it's Bitcoin Mortgage will allow bitcoiners to purchase real estate using their bitcoin holdings. The company issued Canada's first bitcoin-backed loan in 2018 and recently announced the world's first Bitcoin Mortgage.

Ledn is proud to help clients in over 130 countries access credit and savings products to grow their digital wealth. For more information visit Ledn.io.

About Arxnovum
Arxnovum Investments is focused on innovation in digital asset fund management. The Arxnovum Investments team, led by Shaun Cumby and Tanvir Sodhi, has over 40 combined years in investing experience in both traditional and crypto assets. As the team that created Canada's first publicly traded Bitcoin and Ether funds, we are excited to build upon our digital asset fund experience for Canadian investors with Ledn.

SOURCE Ledn Inc.