Arkham Intelligence to launch its own derivatives exchange: report

Arkham Intelligence is looking to motorboat its ain crypto derivatives speech adjacent month, Bloomberg News reported connected Oct. 11, citing sources acquainted with the matter.

The quality caused a 12% surge successful the platform’s autochthonal token ARKM, which was already successful an uptrend amid the wider marketplace recovery.

As of property time, ARKM was trading astatine $1.51, up 16% implicit the past 24 hours.

Derivatives exchange

According to the Bloomberg report, Arkham intends to relocate its office from London and New York to Punta Cana, Dominican Republic, wherever its caller level volition beryllium based. The steadfast is successful the process of securing a free-trade portion licence successful the country, which provides taxation and fiscal benefits.

Sources told the quality outlet that the caller derivatives speech volition absorption connected retail investors but volition not beryllium accessible to US customers. They besides revealed that Arkham has been processing infrastructure implicit the past twelvemonth for the exchange, which aims to rival established players similar Binance, Bybit, and OKX.

The study besides revealed that Arkham is presently seeking up to $100 cardinal successful backing from Middle Eastern investors to grow its reach.

Arkham is backed by task superior funds specified arsenic Coinbase Ventures, Digital Currency Group, and Bedrock Capital. Additionally, billionaires Peter Thiel and Tim Draper, arsenic good arsenic OpenAI’s CEO Sam Altman, took portion successful a $12 cardinal backing round.

Volume behemoth

Arkham’s foray into derivatives aims to capitalize connected the enactment successful the largest measurement marketplace successful the crypto industry. Crypto futures and options person go highly fashionable implicit the past fewer years to go a behemoth successful presumption of the measurement processed each month.

The crypto perpetuals marketplace moved astir $3.5 trillion done centralized platforms successful September, according to information from Coinglass.

The magnitude is astir 25x higher than the trading measurement registered by DEXs implicit the play and 3x the full $1.1 trillion successful measurement registered by the spot marketplace crossed centralized and decentralized platforms.

The station Arkham Intelligence to motorboat its ain derivatives exchange: report appeared archetypal connected CryptoSlate.