In the bustling world of digital assets, a new player emerges with a unique proposition: a crypto trading platform tailored for the titans of finance. Rulematch, a Zurich-based startup, marks its entry into the cryptocurrency space, not with a splash, but with a strategic focus on serving banks and securities firms.
Founded by David Riegelnig, a former executive at Credit Suisse, Rulematch is not your typical cryptocurrency exchange. While most platforms cater to a broad audience, offering a plethora of services including asset custody, Rulematch zeroes in on a niche yet significant market segment – the traditional financial powerhouses.
At its core, Rulematch’s objective is simple yet ambitious: provide a secure, efficient, and tailored trading experience for financial institutions. The startup has hit the ground running, enabling Bitcoin (BTC) and Ether (ETH) spot trading against the USD for clients spanning across the European Union, the United Kingdom, and Singapore.
So, what sets Rulematch apart in the highly competitive and diverse crypto market? It’s the platform’s sharp focus on the needs of a specific clientele – financial institutions that have traditionally been cautious about venturing into the volatile world of cryptocurrencies. In Europe, the UK, and certain Asian countries, where the crypto market is vibrant but still nascent among traditional financial institutions, Rulematch seeks to fill a significant gap.
David Riegelnig’s vision for Rulematch stems from his extensive experience in the banking sector, especially his tenure at Credit Suisse, where he led the operational risk department in private banking until 2015. Recognizing the potential and challenges of integrating digital assets into traditional finance, Riegelnig embarked on the Rulematch journey.
Buoyed by a substantial $14 million investment from key players like ConsenSys Mesh, Flow Traders, and FiveT Fintech, Rulematch is gearing up for another round of funding. The startup’s impressive roster of clients includes notable names like DLT Finance and the Spanish multinational bank BBVA, indicating the platform’s promising start in the competitive crypto trading space.
Rulematch isn’t just about facilitating trades; it’s about doing so smartly and securely. Utilizing Nasdaq-developed software, the platform ensures seamless trade matching, risk monitoring, and market abuse detection. This level of sophistication is crucial, given the platform’s focus on institutional clients who demand high standards of compliance and security.
The platform’s operation is supported by Flow Traders and Bankhaus Scheich Wertpapierspezialist, serving as market makers from day one. This arrangement ensures liquidity and stability, enabling institutions to trade confidently. Moreover, Rulematch’s innovative approach allows participants to trade with significantly less upfront liquidity, thanks to its efficient multilateral net settlement system.
In a move to bolster trust and security, Rulematch has partnered with Luzerner Kantonalbank AG (LUKB), a Swiss bank, to manage fiat funds used as collateral. This partnership not only enhances the platform’s credibility but also underscores its commitment to providing a secure trading environment for its clients.
As Rulematch carves its niche in the crypto market, it stands as a testament to the evolving landscape of digital assets and their increasing appeal to traditional financial institutions. With its strategic approach, innovative technology, and focus on a high-potential market segment, Rulematch is poised to make a significant impact on how financial giants interact with the world of cryptocurrencies.
This move towards integrating digital assets into mainstream finance is more than just a trend; it’s a sign of the times, where innovation meets tradition, and new possibilities emerge for the financial sector.
