On-chain data tracking platform Arkham Intelligence plans to launch its own cryptocurrency derivatives exchange in November, Bloomberg reported, citing sources.
According to him, the startup will move its operations from London and New York to the Dominican Republic. It is currently allegedly in the process of obtaining the necessary license.
The new platform will attempt to compete with giants like cryptocurrency exchange Binance, but will not be available to US customers, the source added.
Binance ARKM/USDT Hourly Chart. Data: TradingView.
On the back of the news, ARKM's native token has soared 17% in 24 hours, according to CoinGecko. At the time of writing, it's trading at $1.63.
Previously, experts noted a 15% decrease in the bitcoin balances of centralized trading platforms since the beginning of the year.
Let us recall that in September, the former owner and head of the bankrupt Mt.Gox, Mark Karpeles, announced the launch of a new cryptocurrency exchange.
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