Arkham Intelligence Inc., a blockchain data firm, is preparing to debut its crypto derivatives exchange in November in Punta Cana, Dominican Republic. Backed by prominent investors, including OpenAI founder Sam Altman, the company is positioning itself to compete in a market dominated by firms like Binance and Coinbase.
Expansion plans and market strategy
Arkham Intelligence’s decision to launch the exchange in the Caribbean comes as it seeks to tap into the growing crypto derivatives market. The firm will benefit from tax exemptions and financial incentives by securing a free-trade zone license in the Dominican Republic, although U.S. investors will be excluded from participating. The company’s exchange will target retail investors, offering high-risk, high-reward financial products. This strategic move follows a growing interest in derivatives trading, with volumes on centralized exchanges reaching $3.07 trillion in September.
Competitive landscape and investor support
Arkham entered the market when Binance’s dominance in crypto derivatives weakened. Recent data reveals that Binance’s market share has dropped to its lowest level in four years, creating opportunities for new players like Arkham to step in. The company is working to secure up to $100 million from investors in the Middle East to fuel further expansion, with its technology having been developed in-house over the past year.
Arkham Intelligence’s native token, ARKM, has surged in value following the announcement of the new exchange. The token rose 23% to $1.79, bringing its market cap to around $402 million. This momentum is supported by an existing base of about 880,000 monthly active users on Arkham’s blockchain data platform.
Source: CoinMarketCap
Marketing and industry presence
Arkham Intelligence has taken a proactive marketing approach to raise its profile and attract users to its exchange. In July, the company signed a sponsorship deal with Turkish football club Galatasaray, valued at €1.8 million ($2 million) per season. The partnership will see Arkham’s branding featured on the team’s jerseys, further promoting its presence in the crypto market.
Source: Arkham Intelligence
Arkham’s role as a blockchain data provider has already made waves in the industry. The firm previously garnered attention for uncovering Binance’s involvement in a money laundering scheme tied to Bitzlato. By leveraging its expertise in blockchain analysis, Arkham aims to offer a secure and data-driven approach to crypto trading. Arkham Intelligence’s upcoming derivatives exchange is poised to impact a rapidly evolving market as the company expands its footprint in the crypto sector.