Crypto asset manager, market maker, and trading infrastructure provider Keyrock said it has raised "significant" new funding at a $1.1 billion valuation.
A representative for the firm declined to comment on the amount of capital raised, but noted the Series C fundraise is not closed. They estimated the total raise could reach $100 million in the coming months.
The round is being led by Standard Chartered’s investment arm, SC Ventures, with support from Ripple, a previous backer of the firm.
While so-called unicorns, or startups with at least a $1 billion valuation, are far from rare in crypto, Keyrock's latest capital injection does come amid a slowdown in crypto-related venture funding activity. According to The Block Pro's data, March is on track to close with just 29 disclosed venture deals, the lowest monthly count in a full calendar year.
The first quarter of 2026 has seen about $3.4 billion worth of venture deals, in line with some of the slowest quarters during the 2022–2023 bear market following the collapse of FTX.
Founded in Brussels in 2017, Keyrock calls itself a "neo-investment group built for digital assets." The firm acts as a market maker for dozens of decentralized and centralized crypto trading platforms and facilitates over-the-counter transactions and options trading.
"Our investment in Keyrock reflects our conviction that sophisticated liquidity infrastructure is foundational to the evolution of digital asset markets. As tokenized assets scale, we believe full-service providers, like Keyrock, will play an important role for SC Ventures’ digital asset ventures," SC Ventures CEO Alex Manson said in a statement.
With the acquisition of Turing Capital last year, Keyrock has also expanded its wealth management and advisory operations.
Kevin de Patoul, Keyrock CEO, noted the firm is looking to grow its services, client base, and geographical reach in 2026. The firm has about 220 employees with entities based in Belgium, France, Switzerland, the UK, and the U.S. Keyrock established a headquarters in New York to take advantage of the friendlier regulatory environment in the U.S. during President Donald Trump’s second term.
Ripple led Keyrock's latest $72 million Series B funding round in 2022.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.