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Crypto takes the lead as Rulematch, led by former Credit Suisse executive David Riegelnig, unveils a groundbreaking trading platform tailored for global banks and securities firms. The Zurich-based startup strategically enters spot trading for Bitcoin (BTC) and Ethereum (ETH) against USD, aligning itself with the growing interest of traditional financial institutions in the digital asset landscape.
Rulematch, spearheaded by David Riegelnig, is making waves as a crypto trading venue tailored for traditional financial powerhouses, emphasizing the significant involvement of banks and securities firms worldwide in the digital asset landscape.
Distinguishing itself by operating solely as a trading platform, Rulematch focuses on matching buying and selling interests, mirroring the structure of traditional financial markets.
Riegelnig underscored the vibrant crypto scene in Europe, the UK, and select Asian markets, where specific banks have entered the realm of crypto trading. Noteworthy is Rulematch’s momentum, with seven banks and securities firms, including BBVA and DLT Finance, already on board. The startup is poised for further expansion, backed by $14 million in investments from key players such as ConsenSys Mesh, Flow Traders, and FiveT Fintech.
Crypto Resurgence: Rulematch Shapes Landscape For Institutional Participants
As the crypto market undergoes a resurgence, Rulematch emerges as a pivotal player, reshaping the landscape for institutional participants and contributing to the ongoing evolution of the digital asset ecosystem.
According to the announcement, Rulematch strategically utilizes Nasdaq’s pre-trade risk, trading, and market surveillance technology to ensure transparency and resilience in its operations. The platform’s matching engine, hosted in two data centers in the Zurich metro area, provides unparalleled speed, with participants benefiting from execution times as low as 30 microseconds.
Introducing a net settlement mechanism, Rulematch enhances capital efficiency for traders, enabling them to trade with up to 75% less upfront liquidity compared to existing trading venues.
The platform’s commitment to institutional-grade liquidity, facilitated by designated market makers like Flow Traders and Bankhaus Scheich Wertpapierspezialist, paves the way for a new era in institutional crypto trading.
Amidst growing regulatory challenges and concerns in the U.S. crypto market, Rulematch’s announcement has garnered significant attention from global investors. The startup’s innovative approach, coupled with strategic partnerships and cutting-edge technology, signifies a pivotal moment in the convergence of traditional and digital asset markets.