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Crypto lender Ledn looks to work with regulators following asset manager acquisition

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Canadian crypto lender Ledn has acquired a digital asset management firm as it looks to expand product offerings.

Ledn acquired Arxnovum to grow its product offerings, namely to register its yield products with Canadian regulators, the firm’s CEO told The Block in an interview.

Ledn has acquired digital asset manager Arxnovum as the crypto lender looks to scale its product suite.Thursday, with the acquisition set to be completed by the end of 2022, subject to regulatory approval. After completing the transaction Arxnovum will become Ledn Asset Management Inc. Ledn was introduced to Shaun Cumby, founder and chief executive of Arxnovum, through the firm's counsel, Lori Stein of McCarthy Tetrault in Toronto. Cumby previously worked at 3iQ, an investment fund manager that made inroads with the Ontario Securities Commission with itsArxnovum's track record of working with regulators is something Ledn wants to emulate, Reeds told The Block.

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