Keyrock has secured new funding at a $1.1 billion valuation as part of an ongoing Series C round, reinforcing its position among crypto unicorns. While the company did not disclose the exact amount raised so far, it expects the round to reach up to $100 million in the coming months.
The funding is being led by SC Ventures, with participation from Ripple, an existing investor that previously backed Keyrock’s Series B round in 2022. The continued support from major institutional players highlights confidence in the firm’s long-term strategy despite a broader slowdown in crypto venture activity.
Expansion Plans and Strategic Growth
Founded in 2017, Keyrock operates as a digital asset market maker, asset manager, and trading infrastructure provider. The firm facilitates liquidity across centralized and decentralized exchanges while also offering over-the-counter trading and derivatives services.
CEO Kevin de Patoul said the company plans to use the new funding to expand its service offerings, grow its client base, and increase its global footprint throughout 2026. Keyrock has already taken steps in that direction, including the acquisition of Turing Capital, which strengthened its wealth management and advisory capabilities.
The company currently employs around 220 people and maintains operations across Europe and the United States. Its recent decision to establish a headquarters in New York reflects a strategic push to benefit from evolving regulatory conditions and deeper institutional engagement in the U.S. market.
Venture Slowdown Frames the Raise
Keyrock’s fundraising comes at a time when crypto venture capital activity has slowed significantly. March 2026 is on track to record one of the lowest monthly deal counts in the past year, while total funding in the first quarter has remained subdued compared to previous market cycles.
This environment makes Keyrock’s ability to attract capital at a billion-dollar valuation particularly notable. It suggests that investors are becoming more selective, favoring established firms with proven infrastructure and revenue models over early-stage speculative projects.
SC Ventures CEO Alex Manson emphasized the importance of firms like Keyrock, noting that advanced liquidity infrastructure will be critical as tokenized assets continue to scale across global markets.
Positioned for the Tokenized Future
Keyrock’s business model aligns closely with the growing trend of tokenization, where traditional financial assets are issued and traded on blockchain networks. As this market expands, demand for liquidity providers and trading infrastructure is expected to increase significantly.
With backing from major financial and crypto players, Keyrock is positioning itself as a full-service provider capable of supporting institutional adoption. Its combination of market-making, advisory services, and infrastructure solutions gives it a competitive edge in an increasingly crowded field.
As the Series C round progresses, the company’s ability to secure additional capital will likely depend on broader market conditions. However, its current momentum signals continued investor interest in foundational crypto firms building the backbone of the digital asset ecosystem.
