Keyrock scores $72m in Ripple-backed Series B


Keyrock, a Belgium-based digital asset market maker, has landed $72m in a Series B funding round.

Investors who took part in the round included Ripple, SIX FinTech Ventures and Middlegame Ventures.

Founded in 2017, Keyrock was created to form accessible and more efficient capital markets by deploying proprietary and highly scalable market making technologies.

Keyrock claims it has become a preferred global liquidity partner of over 85 trading venues both centralised and decentralised since its inception.

In the past year, the firm has expanded into 200 unique new markets and has seen threefold growth in terms of trading volume while the overall market shrunk by 50%.

The company has also doubled the size of its workforce globally earlier this year to over 100 employees. It is looking to double this number again in the upcoming year.

Keyrock plans to use its funding to invest further into infrastructure development, scalability tools, as well as regulatory licensing across Europe, the US and Singapore.

Keyrock CEO Kevin de Patoul said, “In the last five years we have focused strongly on doing things with a long-term perspective and haven’t taken any shortcuts. Due to this focus, we now have a highly robust foundation.

“The new round of funding allows us to expand on that and dramatically accelerate executing our vision to provide liquidity solutions for all digital assets. By doubling down on our focus on clients and scalability, we will be looking to expand into new markets with targeted services.”

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