In a groundbreaking move in the cryptocurrency landscape, Rulematch, led by former Credit Suisse CEO David Riegelnig, has unveiled a cryptocurrency trading platform specifically designed for banks and securities companies. Meanwhile, the platform has commenced trading Bitcoin (BTC) and Ethereum (ETH) for USD, capitalizing on the growing interest of traditional financial institutions in the digital asset space.
Rulematch’s Focus on Institutional Cryptocurrency Trading
Rulematch, under the leadership of former Credit Suisse CEO David Riegelnig, has emerged as a cryptocurrency trading venue targeting traditional financial powerhouses, emphasizing significant participation from banks and securities firms outside the United States in the digital asset space. The Zurich-based startup stands out by functioning solely as a trading platform, concentrating on integrating the buying and selling benefits that reflect the structure of traditional financial markets.
Meanwhile, Riegelnig underscores the vibrant cryptocurrency landscape in Europe, the United Kingdom, and selectively in certain Asian markets, where specific banks have taken the risk to engage in cryptocurrency transactions. Notably, with seven banks and securities firms already on board, including BBVA and DLT Finance, Rulematch is poised for further expansion, backed by a $14 million investment from key players such as ConsenSys Mesh, Flow Traders, and FiveT Fintech.
As the cryptocurrency market experiences a resurgence, Rulematch plays a pivotal role, reshaping the landscape for institutional participants and contributing to the continuous growth of the digital asset ecosystem.
According to the announcement, Rulematch leverages a strategic market surveillance, trading, and pre-trade risk technology from Nasdaq to ensure transparency and resilience in its operations. The platform’s matching engine, hosted in two data centers in the Zurich metro area, delivers superior speed, enabling participants to benefit from real-time execution in just 30 microseconds.
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Meanwhile, by introducing a net settlement mechanism, Rulematch enhances capital efficiency for traders, allowing them to trade with up to 75% lower upfront liquidity compared to current trading venues. The platform’s commitment to institutional-grade liquidity, provided by designated market makers like Flow Traders and Bankhaus Scheich Wertpapierspezialist, sets the stage for a new era in institutional cryptocurrency trading.
Notably, amid increasing legal challenges and other concerns in the U.S. cryptocurrency market, Rulematch’s announcement has garnered attention from global investors. Rulematch’s innovative approach, coupled with strategic partnerships and advanced technology, signals a pivotal moment in the convergence of traditional and digital asset markets.
