Arkham Intelligence, the company behind blockchain data monitoring system Arkham Intel, plans to launch a cryptocurrency derivatives platform in November, Bloomberg has reported.
The new exchange aims to compete with established industry giants such as Binance, but will not be accessible to US customers.
To support this new venture, Arkham will move its operations from London and New York to the Dominican Republic and obtain a free zone license.
In July, its CEO, Miguel Morel, stated that Arkham would explore ways to generate revenue from the platform between now and 2024, but would continue to offer basic functions for free.