cryptobriefing.com
Keyrock has completed the acquisition of assets from BlockFills’ institutional digital asset trading and brokerage business, expanding its client relationships, derivatives capabilities and global regulatory presence.
The transaction brings BlockFills’ trading technology, operational systems, clients and market professionals into Keyrock’s institutional platform. Keyrock operates across capital markets, over the counter execution, options, credit, onchain services and asset management.
The acquisition also includes a Cayman Islands entity registered with the Cayman Islands Monetary Authority. Keyrock is proposing to acquire a BlockFills entity authorised by the UK Financial Conduct Authority, subject to regulatory approval.
Keyrock said the integration would give institutional clients access to its regulatory and compliance infrastructure, balance sheet and established trading frameworks.
“This acquisition represents an exceptional opportunity to further strengthen our team with outstanding talent and accelerate our global reach,” said Juan David Mendieta, Keyrock’s cofounder and chief strategy officer.
The deal adds several traditional finance veterans to Keyrock, including Perry Parker, who has more than 30 years of derivatives experience across Goldman Sachs, Deutsche Bank and digital asset markets.
Dan Schak is also joining after leading risk and trading operations at BlockFills. He brings 18 years of experience in options trading, risk management and institutional trading systems. Other employees across trading, operations and commercial roles will join Keyrock under its existing leadership.
Antoine Lours, Keyrock’s head of options trading, said derivatives had become one of the company’s fastest growing businesses as institutional demand for digital asset options continued to increase.
Keyrock will introduce the acquired services in phases and communicate directly with affected clients during the integration.
BlockFills entered Chapter 11 bankruptcy proceedings in March after reporting between $100 million and $500 million in liabilities and between $50 million and $100 million in assets.
A bankruptcy filing previously listed Keyrock’s purchase price at $3.25 million and said the transaction covered substantially all of BlockFills’ assets, selected liabilities, customer lists, proprietary technology and intellectual property.
BlockFills provided institutional clients with liquidity, financing, derivatives and over the counter execution. The firm said it processed more than $60 billion in trading volume during 2025 and served around 2,000 institutional clients.
The acquisition follows Keyrock’s recent expansion across institutional digital asset services. The Brussels founded company operates a team of more than 220 people and provides market making, options, over the counter trading and asset management services.