Toronto-based cryptocurrency lending firm Ledn is buying Canadian asset manager Arxnovum for an undisclosed amount of money.
The deal, which is expected to close by year’s end, will see Arxnovum rebranded as “Ledn Asset Management” and reorganized as an asset management subsidiary of Ledn.
Ledn has been active in acquisitions this year after trying unsuccessfully to acquire rival cryptocurrency lender BlockFi in July.
Ledn markets its services under the tagline: “Save. Borrow. Trade” and claims to have clients in 130 countries around the world.
Founded in 2021, Arxnovum is regulated in Canada as an investment fund manager, portfolio manager, commodities trader, and an exempt market dealer.
