Key Takeaways
- Crypto market maker Keyrock reached a $1.1 billion valuation in an ongoing Series C round targeting up to $100 million.
- SC Ventures led the funding, with participation from existing investor Ripple.
- The capital will fund balance sheet expansion and strategic acquisitions following its recent Turing Capital buyout.
Brussels-based crypto market maker Keyrock secured a $1.1 billion valuation following a capital injection led by SC Ventures. The venture capital arm of Standard Chartered Bank anchored the Series C funding round, which remains open with a target size of up to $100 million.
The valuation places Keyrock among digital asset entities valued above the one-billion-dollar threshold. Existing investor Ripple also participated in the round, pointing to sustained institutional capital flow into crypto-focused infrastructure businesses in 2026.
Capital Allocation and M&A Strategy
Keyrock plans to allocate the newly raised capital toward strengthening its balance sheet and expanding its service offerings. Corporate strategy also dictates a focus on continued mergers and acquisitions.
This funding follows Keyrock’s recent acquisition of Turing Capital, a Luxembourg-based alternative investment fund manager. The Turing integration established a dedicated asset and wealth management division aimed at institutional clients and private investors.
Institutional Market Infrastructure
Founded in 2017, Keyrock provides market making, over-the-counter (OTC) trading, asset management, and options services. The firm currently provisions liquidity for more than 80 centralized and decentralized exchanges.
Keyrock Chief Executive Officer Kevin de Patoul indicated the firm intends to drive growth across its customer base and geographic footprint throughout the year. The company currently operates with a global headcount exceeding 200 employees.
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