Brussels‑based Keyrock has entered unicorn territory after closing a Series C funding round that values the firm at $1.1 billion, according to the company and multiple outlets. The round was led by SC Ventures, the venture arm of Standard Chartered, with continued backing from Ripple and other investors.
The raise is structured as an open series‑C round, meaning the company is leaving the door open for additional participants as it scales. In total, the $ 1.1-billion-valued funding event is expected to raise up to $100 million, according to the company.
The capital will be used to strengthen Keyrock’s balance sheet, expand its service capabilities, and pursue targeted acquisitions to accelerate growth in the digital asset space.
From Brussels market maker to institution‑grade platform
Founded in 2017 by Kevin de Patoul, Jeremy de Groodt, and Juan David Mendieta Villegas, Keyrock began as a specialised market‑making operation before expanding into a broader financial services platform. According to the company, it now operates across more than 80 centralised and decentralised trading venues, providing liquidity and execution across a wide range of digital‑asset markets.
Its core proposition is to act as a systematic financial services platform for digital assets, connecting traditional institutions with fragmented crypto and tokenised markets. The firm offers market making, OTC trading, options, and digital‑asset‑focused asset management across both centralised and decentralised venues.
This integrated model allows clients to access multiple layers of liquidity and strategy under one roof, a growing necessity as more banks, asset managers, and fintechs explore tokenisation and blockchain‑based assets. By positioning itself as a long‑term infrastructure partner rather than a niche trading desk, Keyrock aims to become a core component of the hybrid financial stack.
Unlike Wintermute, GSR, and Cumberland, Keyrock combines market-making, OTC execution, options, and asset‑management capabilities, offering a broader value proposition for institutions seeking end‑to‑end digital‑asset services. Its strong regulatory footprint in Europe and its recent acquisition of Luxembourg‑based Turing Capital for $27.8 million further differentiate it from more narrowly focused competitors.
Building a bridge between traditional finance and crypto markets
Keyrock employs more than 200 professionals operating across multiple jurisdictions, with established entities in Belgium, the UK, Switzerland, France, and the United States.
With SC Ventures and Ripple already embedded as investors, and the round now open to additional participants, Keyrock is effectively future‑proofing its balance sheet as the line between traditional finance and crypto‑native markets continues to blur.
