Ex-CS Executive Debuts Crypto Trading Venue for Banks

A former private banking executive at Credit Suisse AG has launched a crypto trading venue targeting banks and securities firms as clients, betting on the growing participation of traditional financial companies outside the US in digital-assets.

David Riegelnig, who left Credit Suisse in 2015 as head of operational risk in private banking, co-founded the Zurich-based startup Rulematch, which offers a crypto trading venue for financial institutions only. It has begun trading Bitcoin and Ether and is now open to clients in most of the European Union, the United Kingdom and Singapore, company executives said. It has raised $14 million from investors including ConsenSys Mesh, founded by Ethereum co-creator Joseph Lubin, Flow Traders and FiveT Fintech, and is in the process of raising another round.