Overview
Founded in 2017 by Kevin de Patoul, Keyrock provides algorithmic market-making, liquidity provisioning, and treasury management services for digital asset markets. The company operates across centralized and decentralized exchanges, serving both token issuers and institutional trading desks.
Keyrock raised a $72M Series B in 2022, led by Ripple and SIX Fintech Ventures, before closing a Series C in March 2026 at a $1.1B valuation, led by Sc Ventures and Ripple. The Series C cemented its Unicorn status and positioned it as one of the leading market makers in the European crypto space.
As Belgium's 8th Unicorn, Keyrock joins Collibra, Deliverect, Odoo, and others at the top of the Belgian startup valuation table.
Media & appearances
- De TijdYouTube22/07 | Uitstekend halfjaar voor Belgische groeibedrijven | Vlaanderen gaat met camera's jagen op...Crypto trading specialist that completed a €100 million funding round, second largest of the half year.
Stated facts & numbers
- Crypto trading specialist Keyrock completed a €100 million funding round. (0:02:33, De Tijd 2026-07-22)
Funding & milestones
3 events found for Keyrock · 2020–2026
Series AVenture / equity1 sourceEUR 4.3M
Reported amount EUR 4,300,000
€4.3m Series A. Original publication date verified on the company's announcements archive; current About page incorrectly places Series A in 2021.
Series BVenture / equity1 sourceUSD 72M
Reported amount USD 72,000,000
Company announcement dated 30 November 2022 reports $72m Series B.
Series CVenture / equityDetailsAmount not disclosed
Source not attached to this recordDeal record
Recorded history so far. Original currencies are preserved; amounts in different currencies are not added together. Debt, grants, acquisitions and listings are separate event types. Undated events appear last.
Profile narrative
- Keyrock Series B 2022 - $72M Series B2022led by Ripple and SIX Fintech Ventures
- Keyrock Series C 2026 - Series C at $1.1B valuation2026led by Sc Ventures and Ripple
Key people
In the news
- We backed Arc on testnet. Now we're live on mainnet from day one. Keyrock is live on Arc, providing liquidity and allocating capital to power deep, liquid markets and efficient trading, and to drive smarter capital deployment across the ecosystem.
- How should settlement work in the age of stablecoins and onchain finance? Guillaume Chatain tackled this at Real-World Asset Summit this week. Watch the clip to hear his perspective.
- Tokenised reinsurance is becoming an onchain asset class. OnRe's ONyc token grew AUM ~17.6x since its July 2025 launch to $284.9M, paying ~11.6% from real insurance premiums, a yield that is uncorrelated to both macro and crypto. Swipe to find out more
- Our researcher Amir Hajian was quoted in the Financial Times this week on what is actually moving token markets: the era of tokens rising broadly on hype has ended. Holders are asking whether an asset returns anything real, and some teams have answered by structuring tokens closer to dividend-paying equities. We published the research behind that view in October 2025. Our report, Designing Token Buybacks, mapped how protocols return revenue to holders and where the mechanism breaks down. Ten months on, the FT reports $638M spent on
- In this week's chart we analysed the long tail of the market, which just had its best week in 2026, with the market cap outside the top ten jumping 20% to a three-month high. This time the strength was broad rather than a single headline, with XRP, Ether and Solana all outpacing Bitcoin as money moved down the risk curve for the first time in a while. Swipe to find out what we're watching next
- In Brooklyn for Real-World Asset Summit? Catch our Head of Institutional Sales, Guillaume Chatain, on the panel exploring a fundamental shift in market structure: what happens when you can trade stocks at any hour on any day, and what becomes of the legacy systems running alongside those always-on markets? Will they rapidly lose appeal and be arbitraged away? Or is the old way, and the value it brings to key middlemen, too entrenched to change? Don't miss it.
- We’re speaking at Real-World Asset Summit in Brooklyn. Real-world asset tokenisation is moving from thesis to working products. Tokenised treasuries, credit, and funds are bringing traditional capital onchain, and liquidity is what decides whether that market holds up. What comes next for RWAs, and how far do they go into capital markets? Drop us a note if you’d like to grab time while we’re there.
- Missed our last webinar? We sat down with Dune and Ripple to break down how local stablecoins trade, from exchange to onchain. Catch the replay in our webinar library: https://lnkd.in/eKFKDydi
Open roles
- Senior Rust Engineer - High Frequency Trading (HFT)Brussels · Aug 10, 2026
- Senior Data EngineerBrussels · Aug 4, 2026
- Rust Engineer - Trading SystemsBrussels · Jul 15, 2026
Alumni 1 went on to found or lead
Jules Van ReemptsQuantitative Trading Intern→Co-Founder at Wintro
Backers
Volta Ventures
Early-stage Belgian VC firm based in Ghent, investing in digital and SaaS companies.
Related profiles
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