As a seasoned researcher with a keen eye for financial trends and technological advancements, I find this partnership between Keyrock and Deutsche Bank intriguing. Having closely followed the crypto market since its inception, I have witnessed firsthand the evolution of these digital assets from a niche interest to a global phenomenon.
Keyrock, a digital asset company backed by Ripple, is partnering with Deutsche Bank to utilize the bank’s robust institutional system for facilitating multiple currency accounts and foreign exchange (FX) services.
Keyrock, a global player in the crypto market-making and liquidity provision sector, recently formed a strategic alliance with Deutsche Bank, one of Germany’s leading financial institutions, to strengthen their payment and foreign exchange services.
🎉 Achievement unlocked:
— Keyrock 🔑🪨 (@KeyrockTrading) October 14, 2024
On October 14th, a statement issued by the company based in Brussels announced that their collaboration aims to utilize Deutsche Bank’s robust infrastructure for its operations. This partnership offers multi-currency accounts in over ten currencies, together with integrated foreign exchange (FX) services. The objective is to expedite settlement times when dealing with partners in the EMEA, APAC, and LATAM regions.
Collaborating with Deutsche Bank gives us the opportunity to team up with a globally recognized leader in financial services.
Kevin de Patoul, Keyrock chief executive officer
Deutsche Bank deepens its crypto commitments
According to the press statement, the partnership is anticipated to significantly improve Keyrock’s capacity for swift FX spot trades with quick confirmations, thereby facilitating efficient management of various fiat currencies. The company believes that by unifying services under one provider, they can minimize potential risks associated with counterparties and settlements.
Kilian Thalhammer, who leads the Merchant Solutions department at Deutsche Bank worldwide, underscored the significance of this partnership, saying it reflects their unwavering dedication to fostering technological and financial technology (fintech) advancements.
Established in 2017 by Kevin de Patoul, Jeremy de Groodt, and Juan David Mendieta, Keyrock spans more than 85 global trading platforms. In November 2022, the market-making firm successfully secured $72 million in a Series B funding round from investors such as Ripple, SIX Fintech Ventures, and Middlegame Ventures.
Come September 2023, I found myself basking in the approval granted by the Swiss Financial Services Standards Association. This milestone marked Keyrock’s authorization to function as a financial intermediary within the Swiss borders. With this green light, we’re now able to extend our services to crypto businesses and investors residing in this Alpine nation.
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2024-10-14 16:45