Rulematch, managed by former Swiss bank Credit Suisse executive David Riegelnig, has launched an innovative crypto trading platform designed specifically for banks and securities companies. The platform facilitates instant trading of Bitcoin (BTC) and Ethereum (ETH) against the US dollar, targeting the growing interest of traditional financial institutions in cryptocurrencies.
Targeting the power centers of traditional finance, Rulematch is banking on the significant participation of banks and securities companies from outside the US in the crypto world. This Zurich-based venture operates solely as a trading platform and differentiates itself from other crypto trading platforms by focusing on transactions that mirror the structure of traditional financial markets.
Rulematch is active in European, United Kingdom, and certain Asian markets where some banks are engaged in crypto trading. In particular, with the support of major players such as BBVA, DLT Finance, ConsenSys Mesh, Flow Traders, and FiveT Fintech, as well as seven banks and securities companies, Rulematch is poised to expand further with investments totaling $14 million.
As the crypto market revitalizes, Rulematch is gearing up to become a significant player that reshapes the process for institutional participants and contributes to the ongoing evolution of the crypto world.
Rulematch strategically uses Nasdaq’s pre-trade risk, trading, and market surveillance technology to provide high transparency and flexibility in its operations. The matching engine, hosted in two data centers in the Zurich metropolitan area, offers participants unique transaction speeds with processing times as low as 30 microseconds.