Keyrock Partners with Deutsche Bank in Ripple-Endorsed Move to Propel $1.448 Trillion Crypto Growth

• Ripple’s partner Keyrock and Germany’s largest bank, Deutsche Bank, have teamed up to advance global digital asset operations. 
• Keyrock would leverage the global network of Deutsche Bank to strengthen its position as a digital asset liquidity specialist in Europe. 

Leading crypto market maker and liquidity provider Keyrock has announced a strategic partnership with Deutsche Bank. According to the press release, this collaboration would enable Keyrock to capitalize on the institutional-grade structure of Deutsche Bank to support its digital asset market-making operations and Over-The-Counter activities.

New milestone:
We’ve partnered with Deutsche Bank, a 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

Commenting on this, the CEO of Keyrock, Kevin de Patoul, disclosed that this partnership would enable them to provide greater value and efficiency in their line of operations.

This partnership is a significant step forward for Keyrock. 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.

According to our review of the press release, Keyrock would be well positioned to take advantage of the multi-currency accounts, access to more than 100 currency pairs, and leverage integrated FX services to facilitate FX spot trades in a near instant settlement time. On top of this, the partnership would ensure that services are consolidated with a single provider to drastically reduce counterparty and settlement risks. Also, Keyrock would leverage the global network of Deutsche Bank to cement its role as a leading asset liquidity provider within its region.

More About the Keyrock and Deutsche Bank’s Partnership

Speaking on this, Global Head of Merchant Solutions at Deutsche Bank Kilian Thalhammer disclosed that the provision of services to the market maker aligns with its long-term goal of supporting Financial Technology (Fintech) projects.

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.

Keyrock was co-founded by Kevin de Patoul, Jeremy de Groodt, and Juan David Mendieta in 2017 and has since expanded globally with more than 85 trading venues. In 2022, this leading market maker announced that it had raised $72 million in a Series B funding round with the participation of leading investors, including Ripple, SIX Fintech Ventures, and Middlegame Ventures.

As part of the plans to occupy the length and breadth of Europe, Keyrock obtained the green light from the Swiss Financial Services Standards Association in 2023 to provide services to crypto businesses and investors in Switzerland.

Deutsche Bank, which is Germany’s largest bank, has, over the past couple of years, moved strongly into the crypto world as it recently partnered with Bitpanda to process customers’ deposits and withdrawals. The bank also has a similar partnership with Hong Kong-based crypto exchange Hashkey. According to Thalhammer, these are parts of the efforts to become the “bank of choice for high-potential platforms in the world of crypto assets.”