Arkham Intelligence to Launch Derivatives Exchange Next Month

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As a seasoned analyst with over two decades of experience in the financial sector, I find myself intrigued by Arkham Intelligence Inc.’s bold move to establish a cryptocurrency derivatives exchange in Punta Cana. My journey has taken me through various global financial hubs, from London’s bustling Square Mile to New York’s Wall Street, and now, to the tropical paradise of the Dominican Republic.

In November 2024, the data firm based on blockchain technology, Arkham Intelligence Inc., is planning to debut a fresh platform for trading cryptocurrency derivatives.

Instead of London and New York, the company’s core activities are shifting to Punta Cana, Dominican Republic, which will serve as the new operational hub for their business.

As stated by a report from Bloomberg, the upcoming platform primarily targets individual investors outside of the U.S. market. Additionally, Arkham is making efforts to secure a free-trade zone license in the Dominican Republic, offering potential tax advantages for associated businesses.

According to reports by Bloomberg, the firm aims to gather up to $100 million in investments from investors based in the Middle East, with the goal of expanding its business ventures.

Additionally, it’s worth noting that the market for crypto derivatives is substantial. In fact, centralized platforms facilitated a staggering $3.07 trillion in trading volume during September 2024, accounting for approximately 71% of all cryptocurrency transactions.

Presently, Binance dominates the crypto exchange market, but a recent study by CCData shows that its market share has plummeted to a four-year low of 27%. This decline creates potential entry points for emerging competitors such as Arkham.

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2024-10-11 21:57