A Customized Crypto Trading Experience for Financial Institutions
A new startup called Rulematch, founded by former Credit Suisse executive David Riegelnig, is revolutionizing crypto trading for banks and securities firms. Unlike other exchanges, Rulematch focuses solely on providing a trading platform for traditional financial powerhouses.
Expanding its Reach
Rulematch has already begun offering Bitcoin (BTC) and Ether (ETH) spot trading against USD to clients in most of the European Union, the United Kingdom, and Singapore. This move aims to tap into a market that few financial institutions have ventured into.
Impressive Funding and Partnerships
The startup has raised $14 million from key investors such as ConsenSys Mesh, Flow Traders, and FiveT Fintech. It also plans to launch a new investment round in the near future. Currently, Rulematch serves seven banks and securities firms, including German-based DLT Finance and Spanish multinational bank BBVA.
The Functionality of Rulematch
Rulematch utilizes Nasdaq-developed software for trade matching, risk monitoring, and detecting market abuse. The platform operates using an anonymous central-limit-order book with liquidity guaranteed by market makers like Flow Traders and Bankhaus Scheich Wertpapierspezialist.
Enhanced Liquidity and Efficiency
Participants on Rulematch can trade with significantly less up-front liquidity required compared to other platforms. The multilateral net settlement feature enables highly capital-efficient trading among participants. Additionally, the startup has partnered with Luzerner Kantonalbank AG (LUKB) to handle fiat funds used as collateral.
Hot Take: A Tailored Solution for Financial Institutions
With its tailored approach to crypto trading, Rulematch is addressing the needs of financial institutions. By providing a dedicated trading platform and partnering with established market makers, the startup aims to facilitate the adoption of digital assets and contribute to the overall growth of the financial ecosystem.
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