New York, Friday, October 18, 2024 –Arkham Intelligence is preparing to launch its own crypto derivatives exchange next month, according to an October 11 report by Bloomberg. This move has triggered a 12% rise in the value of its native token, ARKM, which is currently trading at $1.51—a 16% increase over the last 24 hours.
The new exchange will be headquartered in Punta Cana, Dominican Republic, as Arkham shifts its base from London and New York. The company is in the process of obtaining a free-trade zone license in the Dominican Republic, which would grant it favorable tax incentives. Although the platform will focus primarily on retail investors, it will not be available to U.S. customers.
Arkham has been developing this exchange for the past year, with the aim of competing with established players such as Binance, Bybit, and OKX.
The company is also looking to raise up to $100 million from investors in the Middle East to support its growth.
Arkham has attracted investment from major venture capital firms, including Coinbase Ventures and Digital Currency Group, alongside individual backers like Peter Thiel, Tim Draper, and OpenAI CEO Sam Altman, who recently participated in a $12 million funding round.
The launch comes at a time when the crypto derivatives market is seeing rapid growth.
In September, centralized platforms processed nearly $3.5 trillion in crypto perpetuals, far surpassing the trading volumes of decentralized exchanges and spot markets.
