Virgo Global has announced the acquisition of Canadian crypto asset management firm Arxnovum Investments for an undisclosed sum.
Through the deal, the combined firm intends to offer Canadians an increased product choice as well as the benefits of regulatory-compliant innovation in the capital markets.
With the acquisition of Arxnovum Investments, Virgo Group aims to advance by providing clients with regulated investment products across the digital asset management space.
Founded in 2018, Virgo Group of Companies currently operates a Canadian Securities Administrators and Ontario Securities Commission-approved crypto trading platform in Canada and an AUSTRAC approved exchange in Australia.
The firm is committed to facilitate the massive adoption of crypto assets and blockchain technology worldwide.
It provides several business lines, including regulated retail fiat-to-crypto trading and crypto over-the-counter (OTC) trading.
Virgo Group CEO Adam Cai said: “The announcement of this acquisition, despite current market conditions and recent industry fallouts, shows Virgo Group’s strong belief in the future of a regulated digital assets industry.
“This acquisition illustrates Virgo Group’s stability and growth strategy, which also includes offering trading platform and investment management services in other international markets.”
With headquarters in Toronto, Arxnovum Investments was founded in 2021.
The company claims to provide an institutional quality approach to evaluate the risks associated with cryptocurrency investment.
It also packages the strategies in similar investment product structures including funds and ETFs.
Arxnovum Investments CEO Shaun Cumby said: “Arxnovum Investments is excited to partner with Virgo Group to create investment products for Canadians that provide access to the transformations heralded by blockchain innovations and digital assets.”
“Together, we intend to create investment vehicles that can be trusted and uphold the highest industry standards.”
The transaction is subject to regulatory approvals.
