Brussels-based crypto market maker Keyrock has closed a Series C round that values the company at $1.1 billion. The financing was led by SC Ventures, the venture building and investment arm of Standard Chartered, with existing investor Ripple also participating.
Keyrock said the fresh capital will be used to bolster its balance sheet, expand its product suite and support acquisitions as it scales internationally. Chief executive Kevin de Patoul framed the raise as a clear signal of the firm’s future ambitions, pointing to plans to increase market share and extend geographic reach after launching an asset and wealth management arm last year.
Alex Manson, CEO of SC Ventures, said the investment reflects confidence in the role that full-service providers like Keyrock will play as tokenized assets expand, and underscores ongoing interest from bank-linked investors in crypto market infrastructure, particularly in liquidity and tokenization specialists.
Keyrock previously raised $72 million in a 2022 Series B led by Ripple alongside SIX Fintech Ventures and Middlegame Ventures. That round aimed to enhance infrastructure, build scalability tools and secure regulatory licenses across Europe, the United States and Singapore. In 2023 the firm entered asset and wealth management through its acquisition of Luxembourg-based Turing Capital.
Founded in 2017, Keyrock supplies liquidity to more than 85 centralized and decentralized venues, has moved into roughly 1,300 additional markets and handles over 550,000 trades daily, according to the company. SC Ventures’ backing complements Standard Chartered’s wider push into digital assets; media reports say the bank’s venture arm is preparing a roughly $250 million fund focused on the sector.
Cointelegraph reached out to Keyrock for comment but had not received a response by the time of publication. This story is presented in line with independent journalism standards; readers are encouraged to verify details independently.