Rulematch has launched in Switzerland using Nasdaq’s technology and with seven banks and securities firms onboard, including Spain-based BBVA. Rulematch, which will offer Bitcoin (BTC) and Ether (ETH) spot trading against the dollar for a select range of institutional participants, uses crypto custody tech from Switzerland’s bank-friendly Metaco as well as Nasdaq’s pre-trade risk checks, trade matching, and market surveillance features.

As per the official press release, Rulematch seeks to provide firms with the institutional feel they are accustomed to, including an anonymous central-limit-order book with 30 microseconds execution times as well as an integrated post-trade settlement with multilateral clearing. Moreover, upfront liquidity is guaranteed by designated market makers like Flow Traders, and Germany-based Bankhaus Scheich Wertpapierspezialist. Officials from Rulematch emphasised that the crypto spot market is dominated by players who do not fulfil the very high requirements of a regulated participant.

Primarily, the mix of functions crypto exchanges typically do, which makes them much more of a broker than an actual exchange, was what prompted the rolling out of Rulematch. Rulematch is backed by Netherlands-based Flow Traders, Consensys Mesh, and FiveT Fintech, formerly known as Avaloq. Aside from BBVA, the platform is being used by Germany-based DLT Finance.

Other recent cryptocurrency updates from Switzerland In December 2023, Switzerland-based digital asset infrastructure provider Taurus expanded in Germany, to continue its international growth and technology development. Following the announcement, the institutional-grade digital asset infrastructure provider Taurus was set to open a new office in Germany, aiming to optimise and accelerate its international growth process, as well as the reinforcement of technology development in the region of Europe. In the same month, payments orchestration platform Apcopay partnered with Switzerland-based financial institution HAYVN to support merchants in Europe.

The collaboration between these two companies focuses on delivering enhanced payment solutions to merchants operating in the European region. As part of this partnership, Apcopay and HAYVN Pay will work together to extend new payment solutions, ensuring secure transactions within the digital assets landscape. In essence, the joint effort introduced a new avenue for merchants to accept cryptocurrency payments from a global customer base.

In November 2023, Switzerland-based SIX Digital Exchange (SDX) partnered with brokerage company DLT Finance to offer end-to-end crypto trading and custody for institutional clients. SDX started collaborating with DLT Finance to expand their institutional crypto services. In this collaboration, SDX would assume the roles of custodian and staking provider, while DLT Finance’s subsidiary DLT Securities will serve as a fully embedded counterparty for brokerage and trading.

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