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Keyrock
Keyrock: a global crypto market maker founded in 2017 by Kevin de Patoul, running proprietary algorithmic liquidity systems out of Brussels.
Keyrock
Keyrock S.A. is a Hong Kong-based investment adviser registered with the SEC since 2018.
General information
Firm type
Asset Manager
Year founded
2017
AUM
Undisclosed
Location
Region
North America
Country
Belgium
City
Brussels
Corporate office
Brussels, Belgium
Additional offices
Los Angeles, United States · New York, United States · Beijing, China
Principals
Kevin de Patoul
Co-Founder & CEO
Juan David Mendieta
Co-Founder & CSO
Jeremy de Groodt
Co-Founder & CTO
Sector focus
Frequently asked questions
What exactly does Keyrock do?
Keyrock is a market maker for digital assets. It provides continuous buy and sell quotes on crypto exchanges to ensure liquid, orderly markets for token issuers and exchange operators. Its models are algorithmic and asset-agnostic, covering spot, futures, and options across over 100 venues.
Who runs investment and technology decisions at Keyrock?
The firm is run by its three co-founders: CEO Kevin de Patoul, CSO Juan David Mendieta, and CTO Jeremy de Groodt. De Groodt oversees the core algorithmic infrastructure, while de Patoul leads corporate strategy and regulatory expansion. The firm does not operate a discretionary fund allocation model.
Does Keyrock invest in tokens or act as a venture fund?
No. Keyrock is a neutral liquidity provider, not a directional fund. It earns revenue from the bid-ask spread rather than from long or short positions. It does, however, occasionally enter into token-loan agreements to seed liquidity for new listing pairs, which is standard market-making practice.
How is Keyrock regulated?
Keyrock is registered as a financial service provider in Belgium and has pursued licensing in other jurisdictions through its international offices. This regulatory standing distinguishes it from many offshore market makers and allows it to serve institutional clients that require transparent counterparty risk.
Which exchanges and protocols does Keyrock support?
Keyrock provides liquidity across over 100 centralized and decentralized exchanges. The firm is chain-agnostic and integrates with major layer-1 and layer-2 networks. It publicly supports Ethereum-based protocols and has recently expanded into cross-chain liquidity solutions.
How does Keyrock manage downside risk during extreme volatility?
Keyrock's models operate on high-frequency, inventory-neutral principles. By rapidly adjusting quotes and hedging delta across correlated pairs and venues, the system aims to hold minimal directional exposure at any moment. The firm also uses machine learning to predict short-term volatility regimes and adjust spread parameters dynamically.
Why does Keyrock maintain an office in Beijing?
The Beijing office supports business development and technical integration with Asia-based exchanges and token foundations, a region that represents a significant share of global crypto trading volume. It also provides a local presence for managing relationships with Chinese-speaking project teams.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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