Digital asset market maker Keyrock has agreed to acquire the assets of bankrupt U.S. crypto trading firm BlockFills for $3.25 million. The deal, subject to court and regulatory approval, would see Keyrock take over BlockFills’ equity, customer lists, proprietary technology, intellectual property, and certain liabilities.
Background and Details
BlockFills, operated by Reliz Ltd., filed for Chapter 11 bankruptcy protection on March 15, reporting assets between $50 million and $100 million and liabilities between $100 million and $500 million. The firm had paused withdrawals and deposits shortly before the filing, citing difficult market conditions. In 2025, BlockFills handled over $60 billion in trading volume, serving roughly 2,000 institutional clients including hedge funds, asset managers, and mining firms.
Acquisition Terms
The U.S. Bankruptcy Court filing confirms Keyrock as the successful bidder for selected assets tied to Reliz Technology Group Holdings Inc. A court hearing to approve the sale is scheduled for June 16, 2026. Completion remains subject to final court and regulatory approvals.
Strategic Context
Keyrock, a Brussels-based firm, recently raised a Series C round led by SC Ventures (Standard Chartered’s venture arm) at a $1.1 billion valuation and acquired Luxembourg-based Turing Capital to expand into asset and wealth management. The BlockFills acquisition would bolster Keyrock’s institutional crypto trading capabilities by adding its client base and proprietary technology.
The move underscores ongoing consolidation in the digital asset sector, especially among firms that faced liquidity challenges during market downturns. For BlockFills’ creditors and customers, the sale offers a structured path to recover value.
