Keyrock

Keyrock

Liquidity provision through algorithmic trading

Overview

Keyrock provides liquidity solutions for digital asset markets by using algorithmic trading and market making on both centralized and decentralized exchanges. Its tech places buy and sell orders automatically to tighten spreads and improve market liquidity, serving B2B clients such as crypto exchanges and blockchain projects. The system works by running proprietary algorithms that continuously quote prices and trade sizes, aiming to offer the best prices while minimizing market impact. Keyrock differentiates itself by operating across multiple venue types (CEXs and DEXs) and focusing on liquidity provision for its clients rather than just executing trades for themselves, enabling partners to run more efficient, better-funded markets. The company’s goal is to enable more liquid and efficient digital asset markets and to generate revenue by charging fees based on trading volume or assets under management, reflecting the value it adds to client ecosystems.

About Keyrock

Simplify's Rating
Why Keyrock is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Data & Analytics

Fintech

Crypto & Web3

Financial Services

Company Size

201-500

Company Stage

Series B

Total Funding

$77.7M

Headquarters

City of Brussels, Belgium

Founded

2017

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Simplify's Take

What believers are saying

  • The July 16, 2026 BlockFills acquisition adds derivatives traders, clients, and technology.
  • Fija Finance and Turing Capital acquisitions deepen asset-management revenues beyond pure market making.
  • Series C capital strengthens the balance sheet for acquisitions and institutional expansion through 2026.

What critics are saying

  • BlockFills filed Chapter 11 after $75 million losses; integration risk starts immediately.
  • The UK FCA-authorized entity still needs approval, delaying revenue from acquired licenses.
  • Wintermute, GSR, and Cumberland pressure spreads; one bad market cycle can crush volumes.

What makes Keyrock unique

  • Keyrock runs algorithmic liquidity across 85-plus venues, plus OTC, options, and onchain services.
  • The March 2025 New York entity and July 2026 BlockFills deal widened institutional reach.
  • SC Ventures and Ripple backed its March 2026 Series C at $1.1 billion.

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Funding

Total Funding

$77.7M

Above

Industry Average

Funded Over

3 Rounds

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Above Average

Industry standards

$35M
$45M
Linktree
$65M
Substack
$72M
Keyrock
$100M
ClickUp

Benefits

Flexible Work Hours

Remote Work Options

Growth & Insights and Company News

Headcount

6 month growth

2%

1 year growth

4%

2 year growth

1%
PR Newswire
Aug 20th, 2026
Blueprint Finance secures strategic funding led by Polychain Capital to scale Concrete's institutional DeFi vault infrastructure

Blueprint Finance has secured a strategic funding round led by Polychain Capital to scale Concrete, its institutional DeFi infrastructure platform. Participants include Bullish, Keyrock, BitGo, FalconX, G-20, Flowdesk, JPEG Trading, Sentient Capital, Andes, and 2Square. The company develops full-stack vault infrastructure enabling institutions and asset managers to launch and manage on-chain capital allocation strategies. Concrete integrates execution, accounting, risk controls, and rebalancing within a unified vault system. Blueprint Finance has expanded its ecosystem with new financial primitives, including AssetCX and concUSD. The round brings together investors spanning venture capital, institutional trading, custody, and liquidity provision. CEO Nic Roberts-Huntley stated the strategic partners operate at the centre of digital asset markets, providing expertise across liquidity, execution, and distribution.

ViralMag
Jul 17th, 2026
Keyrock acquires BlockFills' crypto derivatives assets for $3.25M

Keyrock has completed the acquisition of BlockFills' digital asset trading and brokerage business for $3.25 million. The Brussels-based market maker gains institutional clients, derivatives expertise, and proprietary technology from BlockFills, which had filed for Chapter 11 bankruptcy protection after significant lending losses. The deal brings two senior traders to Keyrock: Perry Parker, a former Goldman Sachs and Deutsche Bank options specialist, and Dan Schak, who led risk and trading operations. Keyrock also acquires a CIMA-registered entity in the Cayman Islands and a UK FCA-authorised entity, pending regulatory approval. The acquisition follows Keyrock's Series C funding round in March, which valued the company at $1.1 billion, led by Standard Chartered's SC Ventures. The deal strengthens Keyrock's position in crypto derivatives, a growing segment among hedge funds and asset managers seeking sophisticated risk management tools.

Cointime
Jun 2nd, 2026
Keyrock acquires bankrupt crypto lender BlockFills for $3.25M

Belgian digital asset firm Keyrock is acquiring bankrupt crypto trading and lending company BlockFills for $3.25 million, pending court approval. The deal includes nearly all of BlockFills' assets, some liabilities, partial equity, client lists and proprietary technology. BlockFills filed for Chapter 11 bankruptcy in March, reporting liabilities between $100 million and $500 million and assets ranging from $50 million to $100 million. The acquisition will give Keyrock access to BlockFills' institutional client network, including hedge funds, asset managers, market makers and mining companies. Keyrock completed a Series C funding round last year led by Standard Chartered Bank's SC Ventures subsidiary, reaching a $1.1 billion valuation. The company also acquired Luxembourg-based Turing Capital in autumn.

Tech in Asia
Jun 2nd, 2026
Crypto firm Keyrock bids for bankrupt BlockFills after $75M losses

Keyrock, a crypto market-making and trading services firm, has submitted a bid to acquire BlockFills, according to reports. BlockFills provides institutional electronic trading, liquidity provision and prime services but suspended customer withdrawals and deposits after suffering approximately $75 million in losses. Reliz Ltd, BlockFills' operator, and three affiliated entities filed for Chapter 11 bankruptcy protection in Delaware on 15 March, listing $50 million to $100 million in assets against $100 million to $500 million in liabilities. Keyrock, which connects to over 85 venues and offers market-making, over-the-counter trading and options services, launched a US entity in New York in March 2025 as part of its expansion into institutional markets.

Keyrock
Mar 31st, 2026
Keyrock Secures Series C Funding From SC Ventures - Keyrock

Keyrock has secured Series C funding led by SC Ventures, valuing the company at $1.1B

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