Keyrock: digital-asset liquidity, OTC execution and onchain services

Keyrock’s market-making page describes connections to more than 85 venues. That is the provider’s network, rather than a commitment that every asset or exchange will be available to each client. The service includes market-quality reporting, but the public page does not disclose a standard spread/depth obligation or a uniform inventory arrangement.[2]

The options desk advertises more than 20 standardised tokens and exotics on request, with structures adjusted through their lifecycle. Its published flexibility concerns product design. It does not establish a universal margin requirement, available leverage, minimum option size or collateral agreement.[4]

The Deutsche Bank announcement describes access to over 100 currency pairs and faster fiat settlement across EMEA, APAC and Latin America. Those banking capabilities do not make Keyrock a general-purpose retail FX broker, and they do not establish identical settlement timing for a crypto transfer, weekend trade or different Keyrock entity.[16]

The group’s digital-asset reach includes majors, stablecoins and less liquid assets. Its OTC page names BTC, ETH, XRP, BNB, USDC and USDT as examples. An asset appearing on the global product page does not resolve the entity-specific eligibility checks or restrictions in the applicable agreement.[3]

There is no verified universal account-opening deposit or standard execution commission in the reviewed public material. The commercial model therefore needs to be read at the level of the particular trading, market-making or investment relationship. A fund subscription, a token loan and a bilateral trade create different obligations.[9][8]

Keyrock publishes a risk-based AML/CFT framework covering identification, verification, due diligence, sanctions screening and ongoing escalation. It also describes enterprise and customer risk assessments, an MLRO function, staff training and suspicious-activity reporting. The framework can lead to termination of a relationship where necessary.[12]

Technical co-development can extend to reviewing chain activity, identifying bottlenecks and adapting code. This gives the ecosystem service an engineering component beyond liquidity provision. The public description does not set a common project duration, fixed deliverable list or handover schedule.[6]

Keyrock advertises round-the-clock OTC trader coverage and options settlement. These service statements are distinct from a contractual incident-response SLA. The inspected pages do not publish a universal support-ticket severity matrix, response target or service-credit schedule.[3][4]

The Privacy and Complaint notice concerns data processing: it permits access, correction, conditional erasure, restriction and portability requests, with escalation to the Belgian privacy authority. It is not presented as a complete trading-dispute procedure. The relationship documents should identify the route for an execution or settlement complaint.[13]

The current official ESMA CASP file identifies KEYROCK FR SAS, LEI 9845001BAFC53ODN8C90, with the French AMF as competent authority and an authorisation-notification date of 12 June 2026. The retrieved row has no authorisation end date. This is stronger current evidence than the older PSAN wording still visible on parts of Keyrock’s website.[18][11]

The June 2026 MiCA announcement names the French subsidiary specifically. The group’s website continues to contain legacy French registration language and a US-person restriction, while newer releases describe a wider international entity structure. Those sources should not be flattened into a single global eligibility statement.[17][11]

Keyrock was founded in Brussels in 2017. Its current leadership page identifies co-founders Kevin de Patoul as chief executive, Jeremy de Groodt as chief technical officer and Juan David Mendieta as chief strategy officer. Keyrock S.A.’s published Belgian address is Avenue Louise 480, Brussels.[15][14]

Keyrock’s company timeline also records 2026 Series C investment from SC Ventures, Ripple and other investors. These funding relationships should not be treated as ownership of the investors’ other businesses or as guarantees of Keyrock’s obligations.[15]

Operator

Keyrock S.A./NV and group subsidiaries; the service agreement identifies the contracting entity

Service scope

Digital-asset market making, OTC and options execution, onchain liquidity, validator infrastructure and related ecosystem services. Asset-management products form a separate business line; access varies by entity and jurisdiction.

Customer types

Institutional brokers; Funds and asset managers; Corporate treasuries; Token issuers and foundations; Trading venues; Blockchain protocols

Delivery

API; Managed service

Pricing publication

Quote only

Headquarters

Brussels, Belgium

Platforms

Proprietary OTC APIs; Market-making systems; Onchain liquidity tooling

Integrations

Deutsche Bank payment and FX infrastructure

Pricing scope

Negotiated service terms and quotes; the France terms describe a pricing policy supplied before onboarding. No universal public tariff or minimum deposit was verified.

Implementation

AML/KYC and token acceptance precede the applicable agreement. API execution and managed liquidity are available; a universal production timetable and public API specification were not established.

Support

Official contact form and specialist service enquiry routes. OTC trader coverage is advertised 24/7; contractual incident response targets are not public. The privacy notice provides a separate data-complaint route.

Permissions and regulatory scope

ESMA identifies KEYROCK FR SAS as a French MiCA CASP with five listed service categories and notification dated 12 June 2026. Cayman SIBA status is reported from a September company announcement; its register entry was not independently matched. Group service access is entity-specific.

Provider metadata checked 21 Oct 2026Source 1Source 2Source 3Source 4Source 5Source 6Source 8Source 7Source 9Source 12Source 13Source 14Source 11Source 18Source 20Source 16Source 15Source 22Source 23

The Risk Disclosure Statement also contains liability exclusions and a stated six-month-fee cap where liability is imposed, alongside smart-contract loss provisions. Their wording is material public evidence about the contractual allocation of risk; this profile does not determine enforceability or whether a negotiated agreement changes that allocation.[10]