Arkham Intelligence is launching a new crypto derivatives exchange in November, relocating operations to the Dominican Republic.
By relocating to Punta Cana, Arkham aims to leverage tax benefits and compete with giants like Binance in the crypto market.
Arkham's move to the Dominican Republic signals its ambition to expand globally, targeting retail investors with its new derivatives platform.
In November, the blockchain data startup Arkham Intelligence plans to open a cryptocurrency derivatives exchange. But US shoppers will need help to purchase it. The plan is to move its operations from New York and London to the Dominican Republic, to obtain financial benefits such as a free-trade zone license and tax breaks. With this move, Arkham is preparing to take on industry titans like Binance and Bybit while concentrating on regular investors.
https://twitter.com/WuBlockchain/status/1844759967452291456 Strategic Relocation to the Dominican Republic
The strategic relocation to Punta Cana made by Arkham is an attempt to improve its operations. The company wants to take advantage of the tax benefits and another favorable regulatory climate in the Dominican Republic.
By moving, Arkham hopes to expand its business and operate under a license for a free-trade zone, which will save operating expenses. This move also brings to light the regulatory obstacles that many US centralized exchanges must overcome since businesses frequently struggle with ambiguous laws.
Moreover, the decision to launch in November aligns with Arkham’s ongoing restructuring efforts. The company has been quietly developing its exchange software for over a year. The launch will be a step in Arkham’s evolution from a blockchain analytics platform to a competitive player in crypto derivatives.
Arkham’s Plan to Compete with Binance and Bybit
Arkham’s entry into the derivatives market is expected to challenge established players like Binance and Bybit. It will be difficult to compete against such titans given that Binance is the largest spot and derivatives exchange in the world, with a daily trading volume of $47.6 billion in derivatives and $12.7 billion in spot. Despite this, Arkham is moving forward with seasoned executives at the forefront.
Sam Altman, the founder of OpenAI, is one of the popular investors who have contributed to Arkham. The company is looking for an additional $100 million in capital to help with the growth and development of the derivatives exchange.
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