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The Gross trading volume on LN Markets was incorrect and has been amended to USD 6m, USD 5m, USD 30m, USD 94m in Q2 2020, Q3 2020, Q4 2020 and Q1 2021 respectively.
Stockholm, April 16, 2021 - Arcane Crypto AS, a fully owned subsidiary of Arcane Crypto AB, (collectively "Arcane") has entered into an Investment Agreement to increase its ownership in ITOAM (IT) the owner of the Bitcoin Lightning Network based trading platform LN Markets ("LN Markets") from current 7% to 16%, by a cash investment of EUR 1,500,000.
About LN Markets
LN Markets is a trading platform built on the Bitcoin Lightning Network and uses Bitcoin, paid and settled over the Network as collateral for derivatives trading. Currently LN Markets only provides Bitcoin derivatives but will soon be expanding their product offering.
The use of instant and almost costless transactions and Bitcoin Lightning Network technology enables LN Markets to provide highly leveraged derivatives with minimal counterparty risk for traders. Using the highly liquid 24/7/365 traded bitcoin as collateral also limits the risk exposure. LN Market's set-up and APIs further enables almost anyone with a Bitcoin Wallet with Lightning technology rapid access to derivatives trading directly from their wallet. This provides LN Markets with the opportunity to scale the business globally and the team are already exploring potential partnerships.
With this new type of trading platform providing low cost and easy to use access to crypto derivates trading, LN Markets are uniquely positioned to address demand in this emerging market. Despite trading on LN Markets only launching in March 2020 they have already seen impressive growth and positive user feedback. Gross trading volume (gross derivative exposure) on LN Markets was USD 6m, USD 5m, USD 30m, USD 94m in Q2 2020, Q3 2020, Q4 2020 and Q1 2021 respectively.
In addition to the founders of LN Markets, Fulgur Ventures and the bitcoin exchange Bitfinex are also shareholders in LN Markets.
For more information about LN Markets see https://lnmarkets.com/
"We are excited about increasing our ownership stake in LN Markets. They share Arcane's belief in the unique opportunities offered by the Bitcoin Lightning Network. In our view, there is no better cases study to illustrate how extremely efficient Bitcoin collateralized trading can be when using the Lightning Network, than LN Markets" says Torbjørn Bull Jenssen, CEO of Arcane and continues "Their product is extremely scalable. After just one year in operation, they have shown the exponential growth to prove it. LN Markets is positioned to grow with the adoption of Lightning and potentially become one of the really big market players in the years ahead".
"We are very happy to strengthen our partnership with Arcane. They are building one of the most fast-growing digital assets companies globally and they share our belief that Bitcoin is the best collateral and the best infrastructure to build the future of digital finance." says Côme Jean Jarry, Co-Founder at LN Markets. "Arcane's support is instrumental to scale our offering and build the leading Bitcoin derivatives trading platform."
This information is information that Arcane is required to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the agency of the above contact person, for publication on April 16, 2021 at 8:44 CET.
For further information, please contact:
Torbjørn Bull Jenssen, CEO, Arcane Crypto AB
About Arcane Crypto
Arcane Crypto develops and invests in projects, focusing on bitcoin and digital assets. Arcane operates a portfolio of businesses, spanning the value chain for digital finance. As a group we deliver services targeting payments, investment, and trading. In addition, we have a media and research leg.
Arcane has the ambition to become a leading player in the digital assets space by growing the existing businesses, invest in cutting edge projects, and through acquisitions and consolidation.
The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser, tel. +46 8 5030 1550, e-mail: email@example.com, web: www.mangold.se.
IT (https://ito.am/) is building on Bitcoin to offer very low latency and highly secure trading and clearing solutions. With a deep expertise in both finance and tech, and an acute understanding of the Bitcoin disruption, our team develops inventive products and services designed for financial markets professionals.
Arcane Crypto AB's wholly owned subsidiary Arcane Green Data Services AS (under formation, "Arcane Green Data"), has today entered into a lease agreement for hosting capacity for bitcoin miners of up to 2.5 MW (the "Lease Contract"). The signing of the lease contract is a first step in forming a bitcoin mining business unit within Arcane Crypto, branded Arcane Green Data, and in line with Arcane Crypto's strategy to develop and invest in projects focused on bitcoin and digital assets.
Stockholm, June 23, 2021 - Arcane Crypto has today received regulatory approval from the Swedish Financial Supervisory Authority (SFSA) as owners of Ijort Invest AB, which operates the Swedish crypto exchange Trijo. On April 20, 2021, Arcane Crypto entered into an agreement to acquire the remaining outstanding shares in Ijort Invest AB. Closing of the transaction is conditioned upon today's approval from SFSA.
Stockholm, June 16th, 2021 - Arcane Crypto's wholly owned subsidiary Arcane Assets AS has today signed a Letter of Intent with Valour Structured Products Inc. with the intention to explore the issuance and listing of an Exchange-Traded Product (ETP) based on Arcane's cryptocurrency fund. The ETP would be the first to have a cryptocurrency fund as underlying asset and the market provides exciting expansion possibilities for both the Arcane Fund and Valour. The parties are working on a definitive partnership agreement and a plan for issuance and expect these to be completed later this year. The project is in line with Arcane Crypto's overall strategy to develop and invest in projects focused on bitcoin and digital assets.
The Board of Directors of Arcane Crypto AB ("Arcane" or the "Company") has today, by virtue of the authorization from the Annual General Meeting held on 21 May 2021, resolved on a directed set-off issue of no more than 9,215,845 shares at a subscription price of approximately SEK 0.1758 per share, corresponding to issue proceeds of MSEK 1.62. The issue is, with deviation from the shareholders' preferential rights, directed to Dividend Sweden AB (publ) and Crafoord Capital Partners AB and is paid by offsetting previously raised loans.
At today's Annual General Meeting in Arcane Crypto AB, Reg. No. 556668-3933 (the "company"), the resolutions presented below were passed. All resolutions were made in accordance with submitted proposals, which are described in detail in the meeting documents available on the company's website, investor.arcanecrypto.se.
The Group revenue, EBITDA and the result for the period was missing in the highlight of main events during the first quarter 2021 and has been added in this updated Press Release.
Arcane Crypto AB today published its first quarter report for year 2021 and it is available on the company's investor relation website http://investor.arcanecrypto.se/
Arcane Crypto AB will publish its Q1 report for 2021 on Friday 7 May 2021. An updated company presentation will be released simultaneously and a webcast presentation with CEO Torbjørn Bull Jenssen will be held on the same day at 10:00 CET.
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