Deutsche Bank Partners with Keyrock to Expand Crypto Operations

• Deutsche Bank partners with Keyrock to boost its global services in the crypto-native market.
• Keyrock will receive multi-currency accounts and foreign exchange services from Deutsche Bank.
• The partnership aims to reduce counterparty and settlement risks for Keyrock.
• Deutsche Bank's infrastructure will enable near-instant settlements and optimize fiat currency handling.
• Keyrock provides market-making and over-the-counter trading for over 100 currency pairs in 400 markets.
• Deutsche Bank has shown increasing familiarity with crypto through various partnerships and pilots.

Summary :
Deutsche Bank has announced a new partnership with crypto-native market maker Keyrock, providing the company with multi-currency accounts and foreign exchange services. This collaboration will enable Keyrock to expand its operations in the EMEA, APAC, and LATAM regions. By consolidating services with Deutsche Bank, Keyrock aims to reduce counterparty and settlement risks. The bank's infrastructure will optimize the handling of fiat currencies, allowing for near-instant settlements. Keyrock, founded in 2017, offers market-making and over-the-counter trading for over 100 currency pairs across approximately 400 markets. The company utilizes proprietary algorithms to provide scalable liquidity products. This partnership signifies Deutsche Bank's increasing involvement in the crypto space, as it has previously backed digital asset infrastructure provider Taurus and provided services for crypto exchange Bitpanda. Keyrock raised $72 million in a Series B funding round in 2022 and received regulatory approval from the Swiss Financial Services Standards Association to expand its fiat on/off-ramp services.

Sources :

- TheBlock