Important takeaways
- Arkham Intelligence plans to launch a spot trading platform in the US, expanding its crypto trading services.
- Access to Arkham’s spot trading service will be limited by location and legal regulations.
Arkham Intelligence will soon roll out a spot trading platform in the US – a move that would challenge a number of key market players, including Coinbase and Crypto.com. The company shared its plan in a statement on Nov. 20, but gave few details about its new offering.
Arkham said access to the spot trading service will be limited based on location and local regulations. US residents will only be able to use the platform in states where crypto trading is legally permitted.
“Eligibility varies by jurisdiction. US resident users will be excluded from onboarding until onboarding is legally permitted in their country and state,” Arkham said.
The move follows Arkham’s recent announcement of plans to start a crypto derivatives exchangewhich aims to challenge established players like Binance. Although the derivatives platform is aimed at retail investors, it will not be available to US clients due to regulatory restrictions.
Founded in 2020 with the backing of investors including Peter Thiel and Sam Altman, Arkham Intelligence specializes in blockchain data analysis with artificial intelligence. The company is expanding beyond its core data tracking business as it seeks new revenue streams without charging for its core search function.
Arkham’s ARKM token surged 7% following the latest news and is currently trading at around $2.09, for CoinGecko.
