Arkham Spot Trading Platform is about to launch in the US market.

Arkham Intelligence has announced plans to launch a space trading platform in the US, aiming to compete with major players like Coinbase and Kraken. Aside from the announcement on X (formerly Twitter), the company has released very limited details about the platform.

The marketing service operates with location-specific restrictions in accordance with local regulations. US users only have access to cryptocurrency trading in states where it is legally permitted.

Arkham continues to expand commercially.

This move builds on Arkham's recent plans for a crypto derivatives exchange. While that platform is geared toward retail investors, it excludes US residents due to regulatory concerns.

Following the announcement, Arkham's native ARKM token saw a 7% price increase before seeing corrections. At the time of reporting, the token is trading at approximately $2.09.

Arkham will launch its native token in July 2023. The token has risen nearly 350% in a year since then.

Founded in 2020, Arkham Intelligence focuses on blockchain data analysis powered by artificial intelligence. The company is backed by industry giants such as Peter Thiel and OpenAI CEO Sam Altman.

After gaining prominence in the crypto analytics space, the company has begun diversifying its offerings to develop new revenue streams. This includes expanding beyond free blockchain search tools and data tracking services.

However, Arkham is making significant improvements to its current analytics platform. Last month, the platform added Solana's blockchain data to its tools. Users can now track and view on-chain Solana operations.

While the new initiatives represent an expansion of Arkham's operations, the company's overall strategy seems consistent with its previous focus on blockchain analytics and compliance-based adaptations.

Arkham previously reported plans to move to the Dominican Republic to facilitate the launch of the exchange. This can ease regulatory hurdles for the company at scale.