Keyrock acquires BlockFills trading assets in institutional crypto expansion

Keyrock, a digital-asset services firm, acquired the trading and brokerage assets of BlockFills’ institutional digital asset business, bolstering its push into institutional crypto markets, the company said in a press release Thursday.

The completed transaction adds BlockFills’ client relationships, trading technology and derivatives expertise to Brussels-based Keyrock’s existing businesses spanning market making, over-the-counter (OTC) trading, options, credit, onchain services and asset management.

CoinDesk reported in June that Keyrock was in the process of acquiring Chicago-based crypto trading and lending firm Blockfills. According to a bankruptcy filing, Keyrock agreed to pay $3.25 million for substantially all of BlockFills’ assets, while assuming certain liabilities, equity interests, customer relationships and proprietary technology.

The acquisition broadens Keyrock’s regulatory reach through a CIMA-registered entity in the Cayman Islands and the proposed acquisition of an FCA-authorized entity in the U.K., subject to regulatory approval.

The company said the combined platform will offer institutional clients enhanced execution capabilities backed by Keyrock’s balance sheet and regulatory infrastructure.