Arkham Intelligence Set to Launch New Crypto Derivatives Exchange

Arkham Intelligence, a crypto analytics platform, is reportedly preparing to launch its own derivatives exchange next month, aiming to compete with industry leader Binance.

According to Bloomberg, a source familiar with the situation revealed that Arkham is working on an options exchange, backed by high-profile investors, including OpenAI CEO and Worldcoin founder Sam Altman.

The new platform, which will not cater to U.S. customers, is set to operate under a Dominican Republic free-trade zone license, which is still being finalized.

Despite Binance’s dominance in the crypto derivatives space, the source pointed out that its market share has recently hit a four-year low.

Arkham is reportedly building the necessary technology and infrastructure in-house, and the company is in discussions with investors in the Middle East to raise $100 million for expansion efforts.

The platform, launched in 2020, currently boasts around 880,000 active users per month, which it hopes to leverage to attract customers for the new derivatives exchange.