Performances
RD Popularity Index
RD Growth Index
Revenue & Burn
Protocol income
$10.29KBuyback funds
--Burn funds
--Buyback ratio
--Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Nov 2026 | $10.29K | -- | -- | -- |
| Oct 2026 | $22.63K | -- | -- | -- |
| Sep 2026 | $0 | -- | -- | -- |
| Aug 2026 | $0 | -- | -- | -- |
| Jul 2026 | $0 | -- | -- | -- |
| Jun 2026 | $0 | -- | -- | -- |
Comparison
Team
Fundraising
Investment
Sub Organizations
Follow Updates
Follow Lists
People
About Keyrock
Keyrock is a Brussels-based crypto liquidity provider and quantitative market maker, supplying market-making algorithms and liquidity to more than 85 centralized and decentralized venues. It tackles the thin depth and wide spreads of long-tail and emerging tokens by running delta-neutral market-making algorithms and automated quoting systems that keep continuous quotes and low slippage across multiple Order Books. Its services extend from trading infrastructure into asset and wealth management, giving institutional clients compliant on-chain distribution.
As a market maker, Keyrock's liquidity provision depends heavily on its exchange relationships and own risk controls, and algorithm failure or counterparty risk passes straight into the markets it quotes. Its business sits at the institutional and exchange end, with retail usually reaching it indirectly through the platforms it serves, fitting projects and venues needing professional market making and compliant distribution.
Keyrock was founded in Brussels in 2017 by Kevin de Patoul, Jeremy de Groodt and Juan David Mendieta, starting with delta-neutral market-making algorithms.
It raised a seed round from Volta Ventures in 2018, a Series A with SIX and Middlegame in 2021, and a $72 million Series B led by Ripple in 2022 that took the team past 100 people.
In September 2025 Keyrock acquired Turing Capital, a Luxembourg alternative investment fund manager, to launch an asset and wealth management division and move beyond trading infrastructure.
On February 12, 2026 Keyrock acquired fija Finance, a 2023 accelerator alumnus, folding its vault technology and compliance-oriented onchain distribution into its own products.
On March 31, 2026 Keyrock closed a Series C led by Standard Chartered's SC Ventures at a $1.1 billion valuation, with Ripple reinvesting and the round potentially reaching $100 million.
Keyrock now provides liquidity across more than 85 centralized and decentralized venues with over 220 staff in 37 countries, and has applied for MiCA authorization in Liechtenstein to win European institutional clients.
On March 31, 2026 Keyrock announced a Series C valuing the group at $1.1 billion, led by SC Ventures, Standard Chartered's venture arm, with Ripple continuing as a backer. The same month it joined Finery Markets' institutional trading network as a liquidity provider, extending coverage beyond 1,300 markets.
On July 16 Keyrock completed the $3.25 million purchase of the failed BlockFills' institutional trading and brokerage assets, taking on its derivatives team, clients and technology plus a Cayman entity registered with CIMA, and it is pursuing the acquisition of an FCA-authorised entity in the UK. It had already applied for MiCA authorisation in Liechtenstein to offer portfolio management and advisory services. The team numbers more than 220 people across 37 countries and covers more than 85 venues.
Keyrock paid $3.25 million for BlockFills' institutional trading and brokerage assets, picking up more than $60 billion of 2025 volume, about 2,000 institutional clients and two licences in CIMA and a pending FCA entity — under 0.3% of its own $1.1 billion valuation. The deal is consolidation: rising compliance costs and liquidity thresholds make mid-sized specialists hard to run standalone, and Keyrock chose to be the absorber, folding options and derivatives talent into market making, OTC, credit and asset management on one balance sheet. The test is migration — moving 2,000 institutional counterparties off a bankrupt platform decides whether it bought clients or churn.
Kevin de Patoul is co-founder and chief executive, with a background in business engineering and international management, and was earlier a strategy consultant at Roland Berger. He founded the company in Brussels in 2017.
Jeremy de Groodt is co-founder and chief technology officer. He started as a full stack developer building secure applications for European institutions and banks, and has owned the market making algorithms since 2017.
Juan David Mendieta is co-founder and chief strategy officer, with a master degree in innovation and management from Solvay. He earlier consulted for the banking industry and now leads strategy and regulatory matters.
Francesco Adiliberti is chief operating officer. He studied at the University of Zurich and worked at Goldman Sachs, UBS, HSBC and Amber Group, joining as a director before moving to chief operating officer.
Eric Beckwith is chief investment officer and was earlier a managing director at Bank of America Merrill Lynch running trading desks. In 2026 he builds out the asset management team.
Recent team change at Keyrock: Chief Commercial Officer (CCO) Robert Valdes-Rodriguez departed in July 2026, after joining in May 2024. His departure marks a significant leadership transition for the market maker.
2026, Keyrock obtained a French crypto-asset service provider licence under the European Union Markets in Crypto-Assets Regulation, passported across the bloc; it also holds United Kingdom Financial Conduct Authority registration (2025) and Liechtenstein token-service-provider registration (2024).