Leonovus Completes Settlement-Core Migration for New Precious Metals Exchange

On September 30, 2026, Leonovus Inc., a company developing a new regulated exchange for physically backed gold and silver in Canada, announced significant progress in its project. The company's settlement-core migration is now complete, with customer cash and metal entitlement records running on the production permissioned distributed-ledger settlement core. This core supports atomic, intra-second settlement between the cash and metal legs of every trade, enhancing the efficiency and security of the exchange.

Leonovus has also filed patent applications with the United States Patent and Trademark Office (USPTO) to secure priority for the platform's inventions. These inventions cover the platform's settlement, matching, and risk-management mechanisms, which are implemented and demonstrable in working software. The company's software platform is substantially built, with the matching engine, settlement ledger, custody-binding, surveillance, and reporting functionalities operational in working software. The remaining work focuses on final testing, integrations, and pre-launch hardening.

The New Exchange, which will have a working name to be announced, is currently in the process of applying for Ontario Securities Commission (OSC) marketplace recognition (ATS Type I) and Canadian Investment Dealer (CIRO) membership. These approvals are necessary for the exchange to operate as a public marketplace in Canada. Leonovus is also working on a working capital loan from an officer and director, which involves borrowing $125,000 at an interest rate of 12% per annum, due on December 31, 2026. No finder's fee or other compensation is payable to the lender or any third party in connection with this loan.

The company intends to use future financing activities to repay the loan. However, the launch timing of the New Exchange is subject to regulatory review and approval. Leonovus remains committed to developing its platform and obtaining the necessary approvals to bring the exchange to market. The company's next steps include finalizing the platform, securing regulatory approvals, and announcing any upcoming financing to support the launch of the project.