Arkham Intelligence, a leading crypto analytics platform, is gearing up to launch its own derivatives exchange next month in a bid to challenge industry giant Binance. Reports from Bloomberg indicate that the market intelligence firm is set to introduce the options exchange with the support of prominent investors, including OpenAI CEO and Worldcoin (WLD) founder Sam Altman.
The upcoming exchange, which will not be available to US customers, is positioned to rival the world’s largest crypto exchange by volume. Operating under a Dominican Republic free-trade zone license, which is currently in the process of being secured, Arkham aims to carve out a significant presence in the crypto derivatives market. Despite Binance’s stronghold in this sector, recent data suggests a decline in the platform’s market share to its lowest point in four years.
Insiders familiar with the matter reveal that Arkham is internally developing the necessary technology and infrastructure for the derivatives exchange. Additionally, the firm is actively engaging with investors in the Middle East to raise $100 million for further expansion initiatives. With approximately 880,000 monthly active users, Arkham is optimistic that its existing user base will serve as a solid foundation for attracting customers to the derivatives exchange.
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As the launch of Arkham’s derivatives exchange draws near, industry observers are keen to witness how this new player will impact the competitive landscape. With the backing of key investors and a strategic approach to market entry, Arkham Intelligence is poised to make waves in the crypto derivatives arena.