Arkham Intelligence, a blockchain data firm, announced the launch of a crypto derivatives exchange in November in Punta Cana, Dominican Republic.

Arkham's Plans

Supported by influential investors like OpenAI founder Sam Altman, Arkham Intelligence plans to compete with major players in the crypto market. The company will offer high-risk financial instruments to its clients. The Arkham token (ARKM) saw a 23% rise to $1.79 following the news.

Platform Features

The new exchange will target retail investors and leverage a free-trade zone license in the Dominican Republic, providing tax exemptions. However, US investors will not have access to this platform. The exchange has an opportunity to capture market share as Binance's hold in the derivatives sector recently hit a four-year low.

Strategic Moves

Arkham has been developing its exchange technology over the past year and is now in discussions with investors in the Middle East to secure up to $100 million for expansion. The company's data platform, which has attracted approximately 880,000 monthly active users, is strategically important for customer acquisition for the exchange. In July, Arkham signed a two-season sponsorship deal with Turkish football club Galatasaray to promote its brand for €1.8 million annually.

Arkham Intelligence continues to strengthen its position in the crypto market by opening a new platform and expanding its business horizons through strategic partnerships and investments.