TL;DR
- Strategic Partnership: Keyrock partners with Deutsche Bank to enhance payment and FX operations for market making and OTC trading.
- Infrastructure Leverage: Keyrock will use Deutsche Bank’s multi-currency accounts and integrated FX services to optimize fiat handling and reduce settlement risks.
- Global Expansion: The collaboration aims to improve Keyrock’s trading capabilities and settlement times across EMEA, APAC, and LATAM regions.
Keyrock, a leading global digital asset market maker, has announced a strategic partnership with Deutsche Bank. This collaboration aims to enhance Keyrock’s payment and foreign exchange (FX) operations, particularly for market making and over-the-counter (OTC) trading.
🌍 New milestone:
We’ve partnered with Deutsche Bank, worldwide financial leader, to advance global digital asset operations. Through this collaboration, we expand our ability to optimise fiat currency management. pic.twitter.com/1D6AlLDypo
— Keyrock 🔑🪨 (@KeyrockTrading) October 14, 2024
Leveraging Deutsche Bank’s Infrastructure
The partnership will see Keyrock leveraging Deutsche Bank’s institutional-grade infrastructure to support its digital asset market-making operations. Deutsche Bank will provide multi-currency accounts in over ten currencies, integrated FX services, and access to more than 100 currency pairs.
This will enable Keyrock to execute FX spot trades with near-instant settlements, optimizing the handling of fiat currencies and reducing counterparty and settlement risks. Kevin de Patoul, CEO of Keyrock, expressed his enthusiasm about the partnership, stating:
“Working with Deutsche Bank allows us to collaborate with one of the most respected institutions in global finance. Their industry expertise, infrastructure, and commitment to innovation make them the ideal partner. Together, we are well-positioned to provide greater value and efficiency in global digital asset markets.”
Expanding Keyrock’s Global Reach
This partnership is expected to significantly expand Keyrock’s ability to trade in various required currencies and improve settlement times with their counterparties across the EMEA, APAC, and LATAM regions.
By consolidating services with a single provider, the collaboration aims to drastically reduce counterparty and settlement risks. Kilian Thalhammer, Global Head of Merchant Solutions at Deutsche Bank, highlighted the alignment of this partnership with Deutsche Bank’s commitment to supporting tech and fintech innovation.
“Providing our services to Brussels-based Keyrock as one of the leading digital asset liquidity specialists in Europe aligns with our dedicated commitment to supporting tech and fintech innovation. We look forward to working closely with Keyrock to enable cross-currency management and transactional FX services, thereby shaping a still emerging digital asset industry,” Thalhammer said.
A Step Forward for the Digital Asset Industry
Founded in 2017, Keyrock has been a significant player in the digital asset market, providing liquidity to markets and supporting Web3 startups through an accelerator program.
This partnership with Deutsche Bank marks a significant step forward for Keyrock and the broader digital asset industry, as it seeks to enhance operational efficiency and reduce risks in global digital asset markets.
