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On October 14, Deutsche Bank announced a strategic partnership with Keyrock, a prominent crypto-native market maker.
This collaboration aims to enhance Keyrock’s global services and expand its reach in key regions. With this new partnership, Deutsche Bank is positioning itself to support the growing digital asset market and strengthen its footprint in the fintech space.
A Boost for Keyrock’s Operations
Deutsche Bank will provide Keyrock with multi-currency accounts and foreign exchange services through this partnership. This support will enable Keyrock to broaden its operations in the EMEA, APAC, and LATAM regions.
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The partnership represents a significant opportunity for Keyrock to consolidate services and streamline its financial processes. In an interview, Deutsche Bank’s Global Head of Merchant Solutions, Kilian Thalhammer, emphasized the importance of supporting tech and fintech innovation.
He stated that collaborating with Keyrock, a leading digital asset liquidity specialist, aligns with Deutsche Bank’s commitment to fostering growth in this sector. This partnership is a testament to both firms’ dedication to advancing digital asset services.
Mitigating Risks with Multi-Currency Accounts
By opening multi-currency accounts at Deutsche Bank, Keyrock aims to reduce counterparty and settlement risks. These accounts will support over ten currencies, allowing for more efficient transactions. The partnership will facilitate near-instant settlements by optimizing fiat currency handling for Keyrock’s foreign exchange needs.
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This partnership signifies Deutsche Bank’s increasing familiarity with the crypto space. The bank has previously backed digital asset infrastructure provider Taurus and provided services for the crypto exchange Bitpanda.
Deutsche Bank has also engaged in several pilots using blockchain technology for asset tokenization and inter-bank settlements.
Keyrock’s Innovative Approach to Liquidity
Keyrock specializes in market-making and over-the-counter trading. It was founded in 2017 by Kevin de Patoul, CTO Jeremy de Groodt, and CSO Juan David Mendieta.
The firm offers services for over 100 currency pairs and operates across approximately 400 markets. Keyrock utilizes proprietary algorithms to deliver scalable and adaptable liquidity products to marketplaces and asset issuers.
Kevin de Patoul, CEO of Keyrock, expressed enthusiasm for the partnership with Deutsche Bank in a press release. He stated that it marks a significant step forward for the firm. With financial institutional support, Keyrock aims to enhance efficiency and value in global digital asset markets.
