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Arkham: new exchange for derivative products coming soon
By Davide Grammatica
Arkham Intelligence is reportedly planning to launch a new exchange for crypto derivatives products, challenging giants such as Binance
New exchange on the way
According to Bloomberg reports in recent hours, Arkham Intelligence, the company behind the Arkham Intel platform and the ARKM token, is reportedly planning to launch a new exchange for crypto derivative products.
The company would enter into direct competition with giants such as Binance in the retail sector, for a deal that would see Arkham, from a legal point of view, move its operations from London and New York to the Dominican Republic, where it would obtain a new license.
The move was already anticipated, indirectly, by CEO Miguel Morel back in July, when he announced a business expansion plan exploring new ways to monetize the platform.
Meanwhile, the ARKM token reacted positively to the news, performing +16% in 24 hours. The news about moving the company’s operational headquarters was confirmed directly by the ceo, while there is still no official word on the launch of the new platform.
Arkham's expansion plan
The whole affair probably stems from the realization of the opportunities that the derivative market could offer. Last month alone, to cite a few figures, volumes in this market were double those in the spot market ($3 trillion).
According to CCData, at the same time, Binance has reportedly lost ground on its competitors, evidently opening up new opportunities for competitors.
Arkam, also on the strength of a recent $12 million funding round (in which Sam Altman, founder of OpenAI, also participated), would thus appear to have seized the opportunity.
The intention to expand to a wider audience, moreover, is evidenced by the recent sponsorship signed with Galatasaray, a historic Turkish soccer club, along the lines of the leading cex.
