Arkham Intelligence, a prominent player in the crypto industry, is gearing up to launch its very own crypto derivatives exchange in the coming month. This exciting development was recently reported by Bloomberg News, with sources familiar with the matter shedding light on the company’s ambitious plans.
The announcement of Arkham’s upcoming derivatives exchange sparked a significant surge in the value of its native token, ARKM, which was already on an upward trajectory amidst a broader market recovery. At present, ARKM is trading at $1.51, marking a notable 16% increase over the past 24 hours.
According to the Bloomberg report, Arkham is making moves to shift its headquarters from London and New York to Punta Cana in the Dominican Republic, where the new platform will be established. The company is in the process of securing a free-trade zone license in the country, which comes with various tax and fiscal benefits.
Sources revealed that the forthcoming derivatives exchange will primarily cater to retail investors, although it will not be accessible to customers from the United States. Arkham has been diligently building the necessary infrastructure for the exchange over the past year, with the aim of competing with established industry giants like Binance, Bybit, and OKX.
In a bid to further expand its operations, Arkham is reportedly seeking up to $100 million in funding from Middle Eastern investors. The company boasts backing from prominent venture capital firms such as Coinbase Ventures, Digital Currency Group, and Bedrock Capital. Notable figures like Peter Thiel, Tim Draper, and OpenAI’s CEO Sam Altman have also participated in a previous $12 million funding round.
Arkham’s decision to venture into the derivatives market underscores the growing prominence of crypto futures and options, which have seen a surge in popularity in recent years. Data from Coinglass indicates that the crypto perpetuals market processed nearly $3.5 trillion through centralized platforms in September alone, highlighting the immense volume present in this sector.
This figure dwarfs the trading volume recorded by decentralized exchanges (DEXs) during the same period and significantly surpasses the total volume generated by the spot market across both centralized and decentralized platforms. Arkham’s strategic move into derivatives trading positions the company to capitalize on the immense potential of this thriving market segment.
Overall, Arkham Intelligence’s upcoming launch of its derivatives exchange represents a significant milestone for the company and the broader crypto industry. With a strong backing from leading investors and a strategic relocation to a key jurisdiction, Arkham is poised to make a lasting impact in the ever-evolving world of digital assets.