Ripple-backed crypto firm Keyrock partners with Deutsche Bank to leverage its infrastructure for multi-currency operations and FX services.

Partnership with Deutsche Bank

Keyrock, an international crypto market maker and liquidity provider, announced a strategic partnership with Deutsche Bank, aimed at enhancing payment and foreign exchange operations by utilizing the bank's infrastructure. This collaboration will provide Keyrock with multi-currency accounts in over 10 currencies and integrated FX services, improving settlement times with counterparties.

Deutsche Bank Deepens Crypto Commitment

The partnership will enhance Keyrock’s ability to execute FX spot trades with near-instant settlements, optimizing fiat currency management. Consolidating services with a single provider will reduce counterparty and settlement risks. Kilian Thalhammer, Deutsche Bank's head of merchant solutions, emphasized the importance of the partnership, stating it aligns with the bank's commitment to supporting tech and fintech innovation.

Keyrock’s Overall Development

Co-founded in 2017 by Kevin de Patoul, Jeremy de Groodt, and Juan David Mendieta, Keyrock operates across over 85 trading venues worldwide. In November 2022, Keyrock raised $72 million in a Series B funding round from investors, including Ripple, SIX Fintech Ventures, and Middlegame Ventures. In September 2023, Keyrock secured approval from the Swiss Financial Services Standards Association to operate as a financial intermediary in Switzerland, allowing it to provide services to crypto businesses and investors in the country.

The strategic partnership with Deutsche Bank opens up new opportunities for Keyrock in fiat asset management and currency operations, strengthening its position in the global market.