• Arkham Intelligence will launch a retail-focused crypto derivatives exchange in November 2024.  
  • The company is raising $100M for expansion as Binance’s market dominance declines.  
  • Arkham’s token surged 16% after announcing its move to Punta Cana for cost and regulatory benefits.

Arkham Intelligence will launch a cryptocurrency derivatives exchange in November 2024, according to Bloomberg. The company is also moving its operations from London and New York to Punta Cana, Dominican Republic. The move plans to take advantage of the country’s free trade zone, which offers tax and financial benefits.

Arkham Intelligence, a crypto firm backed by OpenAI's founder Sam Altman, is planning to launch a derivatives exchange https://t.co/o5T4GzcE1B

— Bloomberg (@business) October 11, 2024

Targeting Retail Investors

The new exchange will target retail investors but will not be available to US consumers due to regulations. Arkham plans to compete with big exchanges such as Binance, OKX , and Bybit. 

Arkham intends to entice clients to its new platform with a user-friendly UI and competitive features, leveraging on its existing 880,000 active monthly users. Last year, the company launched a marketplace for on-chain intelligence, offering rewards for identifying cryptocurrency addresses.

Raising Funds for Expansion

Arkham is actively seeking $100 million from Middle Eastern investors to help fund its expansion. These funds will be utilized to improve its market position and build the infrastructure for the derivatives platform. Arkham’s move to Punta Cana is also part of its attempt to cut expenses and operate more efficiently in a favorable regulatory environment.

Crypto Derivatives Market Growth

This week, Arkham’s token, ARKM, surged by 16% following news of the upcoming exchange launch. This shows increased market interest as Arkham positions itself to control a part of the $3 trillion crypto derivatives market. 

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The market represents 71% of all crypto trading in September 2024. Binance remains the market leader, but its dominance has fallen to a four-year low, opening up chances for new competitors such as Arkham.

Arkham’s debut into the market is perfectly timed. The company expects that its streamlined platform and strategic approach will enable it to acquire a piece of the growing derivatives market.

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