Crypto trading infrastructure provider Keyrock has acquired Turing Capital as it launches an asset and wealth management division, according to an announcement on Tuesday. The deal was valued at $27.8 million, a Keyrock spokesperson confirmed with The Block.
“We’re proud to officially launch Keyrock Asset and Wealth Management and welcome the Turing Capital team into our fold,” Kevin de Patoul, CEO of Keyrock, said in a statement. “This expansion positions us to better serve our institutional partners across the full spectrum of digital assets, from liquidity provision to long-term investment strategies.”
Turing Capital is an alternative investment fund manager registered in Luxembourg that runs “crypto native investment strategies,” according to the announcement. The acquisition will help flesh out Keyrock’s asset management unit, adding to the firm’s investment offerings geared towards institutional clients and private investors.
The move comes as Keyrock continues to expand its presence in the U.S. and across decentralized finance amid a growing appetite for onchain assets, like tokenized equities, among institutional players. Wealth management is a natural complement to Keyrock’s existing OTC and options trading operations, where the firm facilitates large-volume trades for institutional clients, high-net-worth individuals, and other market participants.
Keyrock announced it would open a U.S. base in New York, led by its COO Robert Valdes-Rodriguez, shortly after President Trump took office. It also operates offices in Belgium, where it was founded in 2017, the UK, Switzerland, and France.
Jorge Schnura, CEO and co-founder of Turing Capital, will lead Keyrock’s onchain wealth management unit and join the firm’s executive committee. Keyrock is also reportedly looking to expand into crypto portfolio management and advisory services through a filing with the Financial Market Authority of Liechtenstein, under the EU’s MiCA regulatory regime.
The Brussels-based Keyrock is perhaps best known for its market-making operations. The firm reportedly provides liquidity services for over 85 centralized and decentralized trading venues worldwide across several dozen countries, including the U.S.
Ripple led Keyrock’s latest $72 million Series B funding round in 2022.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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