Arkham Intelligence, a firm known for analyzing the cryptocurrency market, is about to enter the crypto asset exchange market, launching its own derivatives exchange.
The company decided to move its operations from London and New York to Punta Cana, Dominican Republic, where it will establish its new headquarters. This decision is accompanied by a key strategy: compete directly with Binance, the current market leader.
The exchange is scheduled to launch next month, according to Arkham representatives. The main objective of this new platform is to attract retail investorsaiming to capture a significant portion of a market that has seen transformations following recent regulatory actions.
Arkham has been developing its exchange technology over the last year, launching a data platform which has accumulated around 880,000 monthly active users.
This user base represents a strategic advantage for customer acquisition, according to sources close to the company, Bloomberg reports. Additionally, Arkham has been in talks with Middle Eastern investors to raise up to $100 million, seeking to expand its operation.
The new exchange will not be open to US investors, a decision that reflects the regulatory complexity of the cryptocurrency market in the United States.
Instead, Arkham will seek to operate under a free trade zone license in the Dominican Republica process that is already underway. Dominican free zones offer attractive tax exemptions and other benefits, which could facilitate the company’s expansion and financial sustainability.
The cryptocurrency derivatives market, although still dominated by Binance, has shown signs of opening. Binance’s market share in this segment has fallen to its lowest level in four years, as CriptoNoticias reported, making room for competitors like Arkham. This segment is crucial due to its volatility and speculation, attracting a large number of traders who seek short-term benefits.
This article was created using artificial intelligence and edited by a human Editor.
