A race to the start line in the offshore cryptocurrency exchange market is heating up.

Bermuda’s fintech ambitions are well established, but now a company behind a planned cryptocurrency exchange based in the Cayman Islands says it will soon launch.

Cayman Islands Investment Group’s technology wing, CIIG Technologies, says Cryptocay.ky will soon be ready for use by cryptocurrency traders.

Malcolm Hurlston, head of marketing and promotions for the company, says Cryptocay.ky is aimed at both amateur and professional traders.

“We want to be more than just another exchange, we want to help educate those that haven’t taken the dive into the cryptocurrency world,” Mr Hurlston said. “We want to become the cryptocurrency hub of the Caribbean.”

The company says Cryptocay.ky will boast markets for bitcoin, ethereum, litecoin, ripple, omisego and many more. There will be more than 25 markets to trade from at launch, the company says.

The company is encouraging interested observers to monitor the company’s social media channels in order to keep tabs on the exchange’s launch date.