Arkham Intel, a prominent blockchain analytics and crypto data tracking firm, has announced plans to launch a spot trading platform in the United States.
This marks the firm’s latest venture into the crypto exchange market, following its recent release of the Arkham Exchange.
However, user eligibility will vary by jurisdiction, and individuals residing in the US will not be able to onboard until legally permitted in their respective states and countries.
Arkham’s strategic move into spot trading
Spot trading involves buying or selling assets at current market prices and represents a core offering in the cryptocurrency industry.
By entering this space, Arkham positions itself as a competitor to major players like Coinbase and Crypto.com, which currently dominate over 80% of the USD-supported spot trading market.
Arkham announced the upcoming platform on social media, stating, “COMING SOON TO THE UNITED STATES: SPOT TRADING ON ARKHAM.”
However, the firm emphasized that onboarding would adhere strictly to jurisdictional compliance.
The spot trading platform builds on Arkham’s momentum following its launch of the Arkham Exchange on November 6, an on-chain perpetual trading platform.
This platform introduced several innovative features, including transparent operations, live auditing capabilities, and traceable proof of reserves.
The Arkham Exchange allows users to trade both spot and perpetual pairs while incentivizing participation through Arkham points.
These points are awarded based on trading volume and can be redeemed for the firm’s native ARKM tokens after the first 30-day trading period.
Arkham VIP users enjoy added perks, such as a 10% boost in points and opportunities to earn through referrals and nominations on the Intel Platform.
Navigating competitive and regulatory landscapes
Arkham’s move into spot trading comes as the firm seeks to monetize its platform without charging for core search functionality, according to CEO Miguel Morel.
The company faces stiff competition from established players and regulatory challenges in the US, where jurisdiction-based restrictions have already impacted its onboarding processes for certain regions.
Despite these challenges, Arkham has experienced significant market traction.
The firm’s native ARKM token surged by 25% in response to a broader market rally following Donald Trump’s recent election as the 47th President of the United States.
The forthcoming spot trading platform represents a natural progression for Arkham as it builds out its exchange ecosystem and aims to capture a share of the retail trading market. By focusing on transparency, user rewards, and innovative features, the firm seeks to differentiate itself in a competitive industry.
As the crypto space continues to evolve, Arkham’s expansion into spot trading underscores its ambition to become a key player in the market. However, the firm’s success will hinge on its ability to navigate complex regulatory requirements and meet the expectations of a growing user base.
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