Keyrock raises €4.2m to develop digital assets liquidity solution

Brussels-based Keyrock has raised €4.2 million in Series A funding in a round led by SIX Fintech Ventures.

Keyrock has pivoted towards digital assets after an initial focus on cryptocurrency

The round saw participation from existing backers Volta Ventures, Seeder Fund and TNN Patrimony.

Keyrock offers technology which supports digital asset markets and infrastructure. The firm says it has “relentlessly” built a “highly scalable” system to provide low-cost liquidity.

The firm started out targeting cryptocurrency, and claims to connect with more than 70 different trading venues. It is now focusing on the digital asset sector in capital markets.

Keyrock says its new funds will accelerate technology and infrastructure development, service coverage and regulatory licensing.

“Welcoming SIX Fintech Ventures and MiddleGame Ventures as investors is the ideal scenario for us,” says Kevin de Patoul, Keyrock CEO.

“SIX is at the forefront of incumbent exchanges’ forays in digital assets through its flagship project SDX.

“Their experience and expertise in building successful exchanges will drastically accelerate our development.”

An October report co-written by SIX found that 36% of institutional investors held blockchain-linked asserts in their portfolio.

It also found that 39% planned to invest in digital assets in the near future. The most commonly invested cryptocurrencies by those surveyed were bitcoin (88%) and Ethereum (75%).

“The world of cryptos and digital assets has huge potential,” saya Andreas Iten, head of Six Ventures.

“Yet the segment is very fragmented with several digital exchanges, a lot of issuers and no regulated infrastructure, resulting in low liquidity.

“We believe in the tokenization of assets, where Keyrock has an integral part by providing liquidity to the digital asset world.”

Related: Bank of Thailand launches “world’s first” blockchain platform for bond issuance

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