European crypto market maker Keyrock has acquired Luxembourg-based Turing Capital for $27.8 million, establishing a new Asset & Wealth Management division aimed at institutional and private investors. The acquisition, finalized in Brussels, integrates Turing Capital's crypto-native investment strategies into Keyrock's existing infrastructure, significantly expanding the company's digital asset lifecycle services.
The newly formed division will be led by Jorge Schnura, formerly of Turing Capital, who stated: "In the near future, all assets will live onchain." The move enhances Keyrock's capabilities in on-chain portfolio management and long-term tokenized strategies, with particular focus on major cryptocurrencies like BTC and ETH.
The acquisition aligns with the European Union's MiCA (Markets in Crypto-Assets) regulatory framework, positioning Keyrock to offer MiCA-compliant services that could boost institutional adoption. While immediate financial impacts remain unquantified, the deal reflects growing institutional confidence in digital assets and may prompt increased capital inflows into crypto markets.
Historical parallels include Coinbase's acquisition of Bison Trails, which similarly enhanced institutional infrastructure and subsequently drove increased institutional participation in crypto markets. Keyrock's official statement emphasized: "We are launching our Asset & Wealth Management solutions, strengthened by Turing Capital, to offer a range of digital asset investment strategies for various investor profiles."