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Market analytics platform Arkham Intelligence is announcing the launch of a new spot trading exchange.
In a new thread on the social media platform X, the crypto intelligence firm says it plans to start a new spot trading service in the US, launching as soon as next week.
However, Arkham notes that some US users will have to wait until the platform is fully regulated.
“Eligibility varies by jurisdiction. Users residing in the United States will be excluded from onboarding until onboarding is legally permitted in their country and state.”
According to previous reports, Arkham first announced in October that it would be launching a derivatives exchange as a means of competing with Binance, the biggest crypto exchange in the world.
Anonymous sources familiar with the matter said at the time that Arkham – which launched in 2020 – was building the technology and digital infrastructure needed to operate the exchange themselves but was in talks with investors in the Middle East to raise $100 million.
Other investors include Sam Altman, the CEO of OpenAI and the founder of identity-focused project Worldcoin (WLD).
ARKM, Arkham’s native token, is currently trading at $2.09 with a market cap of $663 million.
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