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Ripple-Backed Keyrock Nabs MiCA License for EU Crypto Services
Keyrock's French unit secured a MiCA license, enabling EU-wide crypto services. The firm, valued at $1.1B after a Series C led by SC Ventures, is backed by Ripple.
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Keyrock, a crypto investment group, secured a MiCA license in France through its subsidiary Keyrock FR SAS. The authorization lets the firm offer regulated crypto services across the European Union, including market making, over-the-counter trading, and custody. The Belgian company reached a $1.1 billion valuation after a Series C round led by SC Ventures, the venture arm of Standard Chartered. Ripple participated in earlier funding rounds and remains a backer.
The MiCA license comes as the EU's unified crypto regime starts to reshape the landscape. Market makers that hold the passport can serve clients in all 27 member states without separate national approvals. Keyrock joins a small group of firms – including Circle and Societe Generale's Forge – that have secured full MiCA licenses. Others, such as Binance, have registered under transitional regimes or operate through national licenses.
Keyrock provides liquidity across more than 80 exchanges, according to its website. It runs algorithmic trading strategies for institutional clients and uses a combination of exchange and over-the-counter execution. The French subsidiary will act as the regulated hub, with plans to expand headcount in Paris.