Keyrock

Most crypto market makers pick a side, centralized venues or decentralized ones. Keyrock quotes on both, running liquidity across exchanges and markets on chain and off. Founded in Brussels in 2017 by Kevin de Patoul and Jeremy de Groodt, it trades its own book to provide spreads and depth to token projects, exchanges and institutions.

It is also one of the few European crypto market makers to raise serious outside capital rather than compound purely from trading profits, reaching a self-described unicorn valuation. De Groodt's background building secure banking software for European institutions gives the firm a financial-services bent, and legal entities in Belgium, the UK, France and Seychelles let it pick the right venue and license for each market.