$XRP Switzerland-based Metaco has recently aligned itself with a new initiative in the crypto trading space — one that aims squarely at major banks and institutional players. Metaco commented on a Bloomberg report detailing the launch of Rulematch, a fresh digital asset trading venue tailored specifically for banks and financial institutions located outside the United States.
Spearheaded by former Credit Suisse executive David Riegelnig, Rulematch has raised $14 million in funding. Backers include well-known industry figures such as Joseph Lubin, co-founder of Ethereum and head of ConsenSys. This move aligns with Metaco’s broader push to deepen its integration into institutional finance. In recent months, the Ripple-owned firm has formed multiple partnerships with large banks, enhancing its appeal as a secure gateway to digital assets for TradFi clients. Ripple v. SEC: New developments However, while Ripple makes strides in expanding its utility and reach through ventures like Metaco, its legal entanglement with the U.S. Securities and Exchange Commission remains unresolved. In a new development this week, Judge Analisa Torres of the U.S. District Court for the Southern District of New York rejected a joint motion filed by Ripple and the SEC. The motion had sought an indicative ruling on a proposed settlement in their long-running case. The parties had requested clarity on whether the judge would approve the settlement if the U.S. Court of Appeals for the Second Circuit were to remand the case.
