Arkham Intelligence, a market analytics platform, has just announced the launch of a new spot trading exchange.
On the social media platform X, the crypto intelligence firm revealed its plans to introduce a new spot trading service in the US, expected to go live as early as next week.
However, Arkham mentions that certain US users will need to wait until the platform is fully regulated.
“Eligibility varies by jurisdiction. Users in the United States will be unable to onboard until it is legally permitted in their country and state.”
Previously, Arkham had announced its intention to launch a derivatives exchange in October as a way to compete with Binance, the largest crypto exchange globally.
Sources familiar with the matter revealed that Arkham, established in 2020, was developing the necessary technology and digital infrastructure to run the exchange independently but was also in discussions with investors in the Middle East to secure $100 million in funding.
Among the investors is Sam Altman, the CEO of OpenAI and the creator of identity-focused project Worldcoin (WLD).
The native token of Arkham, ARKM, is currently trading at $2.09 with a market cap of $663 million.
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Image credit: Midjourney
