Bloomberg reports that blockchain data company Arkham Intelligence intends to open a Cryptocurrency derivatives market the following month.
Supported by financiers like Sam Altman, the founder of OpenAI, the business is moving its headquarters from New York and London to Punta Cana, Dominican Republic.
Although the company will not allow US clients to use the platform, it does intend to serve retail investors.
Founded in 2020, Arkham focuses on deciphering blockchain data to uncover details about the organizations and people behind Bitcoin transactions.
In order to gain a foothold in the expanding cryptocurrency sector, Arkham has decided to open a derivatives exchange.
Derivatives are financial contracts whose value is derived from underlying assets such as Bitcoin. Arkham Intelligence launched a feature in July that allows customers to link their Coinbase Wallets to the company’s platform.
Thanks to this connectivity, users could keep track of their cryptocurrency holdings, which allowed Arkham to de-anonymize blockchain transactions.
How Does Arkham Intelligence Work?
Blockchain analysis platform Arkham de-anonymizes blockchain and on-chain data with artificial intelligence.
It used to be made up of two main parts: the Intel Exchange, which lets users carry out smart transactions, and the Analytics Platform, which offers analytics on a variety of exchanges, assets, and tokens.
According to Bloomberg, the new derivatives platform will run under a free-trade zone license from the Dominican Republic, which has tax and other financial advantages.
Arkham hopes to rival major exchanges such as Binance, OKX, and Bybit by concentrating on derivatives trading.
