Arkham Intelligence Inc. Announces Launch of Crypto Derivatives Exchange
Arkham Intelligence Inc., a prominent Blockchain-based data analytics provider, is gearing up to introduce a new crypto derivatives exchange next month. This upcoming venture, which will specifically cater to retail investors, is set to operate from Punta Cana, Dominican Republic, following the company's relocation from London and New York.
Arkham's Background and Investor Base
Founded in 2020, Arkham is known for its platform that tracks blockchain data to offer insights into the entities and individuals involved in the crypto market. Noteworthy investors backing the company include Binance Labs, Sam Altman, Bedrock, and Draper Associates, as per information available on Pitchbook.
The launch of the derivatives exchange represents an effort by Arkham to compete with established platforms like Binance, which currently holds the top position in the global crypto exchange landscape. However, it's important to note that the upcoming exchange will not be accessible to investors based in the United States.
Preparations and Strategic Moves
As reported by Bloomberg, Arkham is in the process of obtaining a free-trade zone (FTZ) license in the Dominican Republic. This license will enable the company to take advantage of tax exemptions and fiscal incentives offered under the country's FTZ regulations.
Opportunities Amidst Market Dynamics
The unveiling of the crypto derivatives exchange aligns with Arkham's ambitious goal of securing a significant share of the crypto market. This sector has seen notable developments, including increased regulatory scrutiny targeting major players like Binance, Coinbase, and the recent collapse of FTX.
While Binance has historically dominated the market for crypto derivatives trading, its position has seen some erosion in the face of growing competition from platforms like Bybit and OKX. Despite facing legal challenges from the U.S. Securities and Exchange Commission (SEC), Coinbase has managed to maintain its market share.
Recent data from CCData underscores the significance of crypto derivatives trading on centralized platforms, reaching a substantial $3.07 trillion in trading volume in September alone, equating to approximately 71% of total Crypto Trading activities. With this in mind, Arkham has dedicated considerable effort over the past year to develop the technological infrastructure supporting its new exchange.
The company is also in discussions with investors in the Middle East to secure funding of up to $100 million to drive expansion efforts. With an existing user base of around 880,000 monthly active users on its current platform, Arkham is optimistic that this will serve as a strong foundation for attracting customers to its latest venture.
