22
Dear Readers,
We have not forgotten the US based FTX Crypto Exchange Collapse and how it had severe effects on the global crypto markets.
A former Credit Suisse Executive David Riegelnig has started Rulematch, a crypto exchange platform which offers crypto trading only for banks and securities firms in Switzerland.
It is said that Rulematch uses the Nasdaq's technology in offering the services of crypto trading for the financial firms.
Unlike the traditional Crypto Exchanges which offers the spot trading and the custody wallets for the client to keep the Crypto Coins, Rulematch only matches the buys and sells of the Crypto trading which is the working model of the financial exchanges.
Rulematch already onboarded various banks to its services that includes the Spain’s Digital Assets Pioneer Banco Bilbao Vizcaya Argentaria (BBVA). BBVA is a famous Spanish multinational financial services company based in Madrid and Bilbao, Spain. It is one of the largest financial institutions in the world, and is present mainly in Spain, Portugal, Mexico, South America, Turkey, Italy and Romania.
We can expect many more financial institutions would be in the foray in the time to come!
With the services of Rulematch it is widely expected that the major Crypto operations would also take place outside the US and it will be boost to European Union Countries.
Rulematch will offer the spot trading for the Crypto Stable Coins BTC and ETH at the initial operations against US Dollars.
Today at the time of writing this article, the global market cap stands at 1.61 Trillion USD, a increase of 0.81% compared to yesterday. BTC trades at USD 42702 while ETH trades at 2280 USD.
