Rulematch Raises $14 Million Funding for its Institutional Crypto Trading Platform
In Brief
Rulematch raised $14 million in funding to provide institutional clients with a cryptocurrency trading venue.
An institutional-grade crypto trading platform Rulematch, announced completion of its $14 million funding that saw participation from ConsenSys Mesh, founded by Ethereum co-creator Joseph Lubin, Flow Traders, and FiveT Fintech.
Established by former Credit Suisse executives, Rulematch is specifically designed for institutional clients — providing them with a cryptocurrency trading venue.
Unlike conventional cryptocurrency exchanges that encompass a range of functions, Rulematch positions itself solely as a trading platform, focused on matching buying and selling interests, resembling the structure of traditional financial markets. Additionally, it enables participants to settle their trades daily on a net basis, offering a method to enhance capital efficiency for traders.
The platform trades Bitcoin and Ethereum, serving customers across most of the European Union, the United Kingdom and Singapore. Among the platform’s initial customers are seven banks and securities companies, including Banco Bilbao Vizcaya Argentaria and DLT Finance.
Institutional Crypto Exchanges Embrace Non-Custodial Models
The crypto market has experienced a partial recovery from the 2022 downturn, driven by investors’ expectations of the US approving its first spot Bitcoin exchange-traded fund (ETF).
Gary Gensler, chair of the US Securities and Exchange Commission, has consistently criticized existing crypto platforms for their inability to separate different aspects of their businesses, such as custody, market-making, and trading, potentially leading to conflicts of interest.
In a recent development, the US institutional crypto exchange EDX Markets has also adopted a “non-custodial” model, eliminating itself from the need to hold clients’ digital assets. Currently, the platform offers trading in Bitcoin, Ethereum, and Litecoin.
Against a backdrop of heightened anticipation around Bitcoin ETF approval, companies are adjusting to the evolving landscape by introducing new cryptocurrency-related products tailored for institutional clients.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.About The Author
Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
More articles
Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
