Deutsche Bank has announced a new partnership with Keyrock, a Brussels-based crypto-native market-making firm, to provide foreign exchange (FX) services and multi-currency accounts, according to an October 14 statement.
The collaboration aims to facilitate Keyrock’s expansion across key regions, including EMEA, APAC, and LATAM.
“Providing our services to Keyrock, one of Europe’s leading digital asset liquidity specialists, aligns with our commitment to supporting tech and fintech innovation,” said Kilian Thalhammer, Deutsche Bank’s Global Head of Merchant Solutions.
By consolidating its FX needs with Deutsche Bank, Keyrock will benefit from a streamlined infrastructure that reduces counterparty and settlement risks. The bank’s multi-currency accounts will support over 10 currencies, helping the firm optimize its handling of fiat transactions and enable near-instant settlements.
Founded in 2017, Keyrock offers market-making and over-the-counter (OTC) trading services across 400 markets, covering more than 100 currency pairs. The firm, led by CEO Kevin de Patoul, CTO Jeremy de Groodt, and CSO Juan David Mendieta, uses proprietary algorithms to deliver scalable liquidity solutions to exchanges and asset issuers.
“This partnership is a significant step forward for Keyrock,” said de Patoul. “Collaborating with Deutsche Bank positions us to deliver greater value and efficiency to global digital asset markets.”
Deutsche Bank’s involvement with Keyrock reflects the bank’s growing interest in the digital asset space. The bank has previously backed Taurus, a digital asset infrastructure provider, offered services to crypto exchange Bitpanda, and conducted pilots exploring blockchain-based asset tokenization and inter-bank settlements.
Keyrock’s expansion efforts were bolstered in 2022 with a $72 million Series B funding led by Ripple. The firm also received regulatory approval from the Swiss Financial Services Standards Association to expand its fiat on/off-ramp services through its OTC desk.
This partnership strengthens Keyrock’s ability to compete in the rapidly evolving digital asset market while positioning Deutsche Bank as a trusted financial partner for the crypto industry.
