Virgo Group Announces Acquisition of Arxnovum Investments to Incubate Crypto Investment Funds

Holding company of leading Canadian crypto platform VirgoCX expands its service scope by offering clients additional regulated investment products

TORONTO, May 05, 2023 (GLOBE NEWSWIRE) -- Virgo Global Holdings Inc., the holding company of VirgoCX Inc. and other companies (“Virgo Group”), is pleased to announce the acquisition of Toronto-based Canadian crypto asset management firm Arxnovum Investments Inc., pending regulatory approval.

Virgo Group is making a significant step forward by seeking to serve clients across the digital asset management space with regulated investment products. The combined firms will seek to provide Canadians with increased product choice, and the benefits of regulatory compliant innovation in our capital markets.

“We are excited to consolidate Arxnovum’s experience and connections in the digital asset management space to launch crypto investment funds, including private funds and ETFs, that have been requested by investors,” Adam Cai, CEO of Virgo Group, stated.

“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,” Shaun Cumby, CEO of Arxnovum, stated. “Together, we intend to create investment vehicles that can be trusted and uphold the highest industry standards.”

“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,” Cai remarked. “This acquisition illustrates Virgo Group’s stability and growth strategy, which also includes offering trading platform and investment management services in other international markets.”

About Virgo Group

Virgo Group is dedicated to enabling massive adoption of crypto assets and blockchain technology on a global scale. Virgo Group offers multiple business lines, including regulated retail fiat-to-crypto trading and crypto over-the-counter (OTC) trading. With continuous innovation in mind, Virgo Group is poised to become an integrated global digital asset service provider.

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About Arxnovum Investments Inc.

Arxnovum is focused on alternative asset management. The Arxnovum team, led by Shaun Cumby and Tanvir Sodhi, has over 40 combined years in investing experience in both traditional and digital assets. The team created Canada’s first publicly traded Bitcoin and Ether funds. Arxnovum is set to bring diverse digital asset investment products to Canadian investors.

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