Keyrock, a Brussels-based crypto market maker, has closed a Series C funding round that values the company at $1.1 billion. The round was led by SC Ventures, the venture building and investment arm of Standard Chartered. Existing backer Ripple also participated in the investment, the company announced on Tuesday.
According to Keyrock, the fresh capital will be directed toward strengthening its balance sheet, broadening its product offerings, and pursuing acquisitions as the firm expands its global presence. The company also launched an asset and wealth management unit last year, which forms part of its broader growth strategy. Chief Executive Kevin de Patoul described the round as a signal of the company’s ambitions to grow market share and extend its geographic reach.
SC Ventures CEO Alex Manson indicated that the investment reflects confidence in full-service providers operating within the digital asset space. He noted that as tokenized assets continue to scale, companies like Keyrock are expected to play a meaningful role in SC Ventures’ digital asset ventures. The backing underscores continued interest from bank-linked investors in crypto market infrastructure, particularly around liquidity and tokenized assets.
This latest round builds on Keyrock’s Series B in 2022, when the company raised $72 million with support from Ripple, SIX Fintech Ventures, and Middlegame Ventures. At that time, Keyrock said the funds would be used to expand infrastructure, develop scalability tools, and obtain regulatory licenses across Europe, the United States, and Singapore. The company has continued to grow significantly since then.
Keyrock also expanded its business scope last year through the acquisition of Turing Capital, a Luxembourg-based alternative investment fund manager, marking its entry into asset and wealth management. Founded in 2017, the firm now provides liquidity across more than 85 centralized and decentralized platforms. It has entered 1,300 new markets and processes more than 550,000 trades daily, according to its website.
The Series C investment adds to Standard Chartered’s wider push into digital assets. SC Ventures was previously reported to be preparing a $250 million fund focused on the digital asset sector. The latest move reinforces the bank’s positioning as an institutional player with growing exposure to crypto market infrastructure. Cointelegraph reached out to Keyrock for comment but had not received a response at the time of publication.
Originally reported by CoinTelegraph.
