Arkham Intelligence, a blockchain data firm, plans to launch a cryptocurrency derivatives exchange next month, according to reporting from Bloomberg.  

Backed by investors like OpenAI founder Sam Altman, the startup is relocating its operations from London and New York to Punta Cana in the Dominican Republic. The company aims to serve retail investors but will not open the platform to U.S. customers.

Arkham, founded in 2020, specializes in analyzing blockchain data to reveal information about the entities and individuals behind cryptocurrency transactions. 

The decision to launch a derivatives exchange comes as Arkham looks to capture part of the growing crypto market, particularly in derivatives, which are financial contracts that derive their value from underlying assets like Bitcoin (BTC).

In July, Arkham Intelligence introduced a feature allowing users to connect their Coinbase Wallets to its platform. This integration enabled users to track their crypto holdings while Arkham continued to de-anonymize blockchain transactions.

What is Arkham Intelligence?

Arkham is a blockchain analysis platform that uses artificial intelligence to deanonymize blockchain and on-chain data. It previously consisted of two primary components: the Analytics Platform, which provides analytics on numerous exchanges, funds, and tokens, and the Intel Exchange, which allows users to conduct intelligent transactions.

The new derivatives platform will operate under a Dominican Republic free-trade zone license, which offers tax and other financial benefits, according to Bloomberg. 

Arkham’s focus on derivatives trading aims to compete with large exchanges like Binance, Bybit, and OKX.