Keyrock hits $1.1B valuation in SC Ventures-led Series C

• Keyrock has achieved a valuation of $1.1 billion following a successful Series C funding round led by SC Ventures.
• The Brussels-based market maker intends to use the capital for global expansion, product diversification, and potential strategic acquisitions.
• Existing backer Ripple participated in the round, reinforcing institutional interest in digital asset infrastructure and liquidity services.

Strategic Funding and Valuation Milestone

The crypto market maker Keyrock has officially joined the ranks of industry unicorns after securing a $1.1 billion valuation. This latest Series C investment was spearheaded by SC Ventures, the investment and venture-building arm of Standard Chartered. The round also saw continued support from Ripple, which had previously participated in the company's Series B round.

This fresh capital injection follows a $72 million Series B round in 2022 that included investors such as SIX Fintech Ventures and Middlegame Ventures. According to CEO Kevin de Patoul, the funding represents a clear "signal of intent" as the firm seeks to capture more market share and broaden its international footprint.

Expanding Global Reach and Product Suite

With the new resources, Keyrock plans to strengthen its balance sheet and accelerate its growth strategy. The company has already been active in the M&A space, having acquired the Luxembourg-based alternative investment fund manager Turing Capital last year to bolster its asset and wealth management capabilities.

Key operational statistics for Keyrock include:

• Providing liquidity to more than 85 centralized and decentralized platforms.
• Processing an average of over 550,000 daily trades.
• Expanding operations into 1,300 new markets.

Institutional Alignment in Digital Assets

The involvement of SC Ventures highlights a growing trend of major financial institutions backing the infrastructure layer of the cryptocurrency market. Alex Manson, CEO of SC Ventures, noted that full-service providers like Keyrock are essential as tokenized assets continue to scale.

This investment aligns with Standard Chartered’s broader strategy, which includes a reported $250 million fund dedicated to digital assets. Keyrock, founded in 2017, remains focused on securing regulatory licenses across key jurisdictions, including Europe, the United States, and Singapore, to support its long-term scaling objectives.