Brussels-based fintech startup Keyrock has raised €4.3 million to accelerate its efforts to build efficient markets for digital assets. SIX Fintech Ventures and MiddleGame Ventures co-led the round, and existing backers Volta Ventures, Seeder Fund and TNN Patrimony also took part.
With the rise of digital assets, capital markets worldwide are on the verge of tremendous innovation, says the startup, but there's an obstacle. Andreas Iten of SIX explains: “The world of cryptos and digital assets has huge potential. Yet the segment is very fragmented with several digital exchanges, a lot of issuers and no regulated infrastructure, resulting in low liquidity. This is a huge obstacle for the adoption of digital assets – especially by institutional players.”
So, Keyrock has built a blockchain infrastructure and system that provides liquidity to markets with a low marginal cost. The platform, which started on crypto assets and is connected to over 70 trading venues, will now expand to include regulated digital assets. In this way, the company believes it can be “instrumental in a disruption as impactful on capital markets as the switch from paper to electronic trading was in the late 90s.” Earlier this year the Belgian startup took part in the F10 Scaleup acceleration program in Switzerland. The team has grown from the founding trio to 34 people in three years and plans to welcome ten new members over the next few months.
Photo: Keyrock co-founder and CEO Kevin de Patoul