Arkham Spot Trading Platform Set to Launch in the US Market
Arkham Intelligence has announced plans to launch a spot trading platform in the United States, aiming to compete with major players such as Coinbase and Kraken. In addition to the announcement on X (formerly Twitter), the company revealed very limited details about the platform.
The trading service will operate under location-based restrictions and in compliance with local regulations. US users can only gain access in states where cryptocurrency trading is legally allowed.
Arkham continues to expand its business
The move builds on Arkham’s recently announced plans Crypto Derivatives Exchange. While the platform is geared toward retail investors, it will exclude U.S. residents for the following reasons: regulatory challenges.
follow announcementArkham’s native ARKM token experienced a 7% price increase before correcting. At the time of the report, the coin was trading at around $2.09.
Arkham launched its native token as early as July 2023. The coin has since surged nearly 350% in a year.
Founded in 2020, Arkham Intelligence Focus on artificial intelligence-driven blockchain data analysis. The company is backed by industry giants including Peter Thiel and OpenAI CEO Sam Altman.
After gaining popularity in the crypto analytics space, the company began diversifying its products to develop new revenue streams. This includes expanding beyond its free scope Blockchain search tool and data tracking services.
However, Arkham is still undergoing significant upgrades to its current analytics platform. last month, The platform adds Solana’s blockchain data Tools for it. Users can now track and visualize various on-chain information Solana operations.
While the new initiative marks an expansion of Arkham’s business, the company’s overall strategy appears to be consistent with its previous focus on blockchain analytics and compliance-driven adjustments.
Previously, Arkham reported plans Relocating to the Dominican Republic to facilitate the launch of its exchange. This could ease regulatory hurdles for companies as they scale.
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