Crypto market maker and infrastructure provider Keyrock has announced a significant new funding round at a $1.1 billion valuation, achieving unicorn status. The Series C round is being led by Standard Chartered's investment arm, SC Ventures, with support from previous backer Ripple. While the exact amount raised was not disclosed, a company representative estimated the total raise could reach $100 million in the coming months, noting the round is not yet closed.
This capital injection comes amid a broader slowdown in crypto venture funding. According to The Block Pro's data, March 2026 is on track to close with just 29 disclosed venture deals, the lowest monthly count in a full calendar year. The first quarter of 2026 has seen about $3.4 billion worth of venture deals, a level comparable to some of the slowest quarters during the 2022–2023 bear market following the collapse of FTX.
Founded in Brussels in 2017, Keyrock describes itself as a "neo-investment group built for digital assets." The firm provides market-making services for dozens of decentralized and centralized crypto trading platforms and facilitates over-the-counter transactions and options trading. Following its acquisition of Turing Capital last year, Keyrock has also expanded into wealth management and advisory operations.
"Our investment in Keyrock reflects our conviction that sophisticated liquidity infrastructure is foundational to the evolution of digital asset markets. As tokenized assets scale, we believe full-service providers, like Keyrock, will play an important role for SC Ventures’ digital asset ventures," said SC Ventures CEO Alex Manson in a statement.
Keyrock CEO Kevin de Patoul stated the firm aims to grow its services, client base, and geographical reach in 2026. The company has about 220 employees with entities in Belgium, France, Switzerland, the UK, and the U.S. Notably, Keyrock established a headquarters in New York to leverage the friendlier regulatory environment in the U.S. during President Donald Trump’s second term. Ripple previously led Keyrock's $72 million Series B funding round in 2022.
