The post Could Arkham’s derivatives exchange really challenge Binance? appeared on BitcoinEthereumNews.com.

Arkham is working on securing a free-trade zone (FTZ) license in the Dominican Republic. The permit will allow it to benefit from various tax exemptions and fiscal incentives offered under the country’s FTZ regulations. It is no minor undertaking; many other exchanges, some of which are still around today, are still trying to do that with little luck. So what makes the new platform Arkham plans to build so different that they believe it can threaten Binance’s hold on the market?  What we know about Arkham’s crypto derivative platform  Arkham Intelligence is preparing to launch its own cryptocurrency derivatives exchange, which will go live in November 2024. The proposed exchange will target retail investors, and over time, Arkham aims to compete with major players like Binance.  Arkham already has the backing of notable investors like OpenAI founder Sam Altman, and it plans to base its operations in Punta Cana, the Dominican Republic, an area known for favorable tax regulations.  Unfortunately, thanks to U.S. regulatory constraints, the new platform will not be accessible to U.S. users. It is willingly relinquishing a large chunk of potential cash flow from a market known to be incredibly liquid.  However, reports have it the exchange has been in development over the past year and is actively raising $100 million to scale its operations. So, it probably has a plan in place if it won’t even attempt to take a share of the United States market. There’s certainly some merit to looking outside the U.S. for its user base.    We also know the initiative will occur after the company relocates from its current London and New York bases. What will Arkham’s exchange do differently? Arkham Intelligence’s ultimate goal in creating the new exchange is to challenge the major players in the token exchange market, which…

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Filed under: News - @ October 17, 2024 11:21 pm