Arkham Intelligence Set to Launch New Derivatives Exchange in the Dominican Republic
Arkham Intelligence is set to unveil its new derivatives exchange, marking a significant expansion for the on-chain analytics firm.
As part of this initiative, Arkham will relocate its operations to the Dominican Republic, where it is actively pursuing $100 million in funding. This strategic move aims to capture market share in the crypto derivatives landscape, which has shifted considerably in the wake of regulatory scrutiny faced by industry giants like Binance and the notable collapse of FTX.
The derivatives market, currently thriving with over $3 trillion in trading volume as of September, presents a lucrative opportunity for Arkham.
The firm has reportedly been developing the exchange’s software for the past year, positioning itself to tap into the market as it seeks to differentiate itself from competitors. According to sources, Arkham is motivated by a desire to carve out a substantial share of the market, especially as Binance’s dominance has weakened to its lowest point in four years.
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To enhance its operational advantages, Arkham aims to secure a free-trade zone license and enjoy tax exemptions in the Dominican Republic, which has already attracted international users seeking access to cryptocurrency exchanges.
However, it’s important to note that the new platform will not be available to users based in the United States. As Arkham moves closer to launching this exchange, additional official announcements are anticipated, which could provide further insight into its plans and offerings in the evolving crypto landscape.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
