Deutsche Bank has entered into a strategic partnership with crypto-native market maker Keyrock to enhance payment and foreign exchange (FX) services for its global market-making and over-the-counter (OTC) trading operations, according to an Oct. 14 statement.

The collaboration aims to optimize settlement processes and expand Ripple-backed Keyrock’s capabilities across Europe, the Middle East, Africa (EMEA), Asia-Pacific (APAC), and Latin America (LATAM).

Deutsche Bank will provide institutional-grade infrastructure, including multi-currency accounts in over 10 currencies, integrated FX services, and access to over 100 currency pairs. This setup will enable Keyrock to trade efficiently in various currencies, reducing counterparty and settlement risks while improving settlement times with its global counterparties.

Keyrock CEO Kevin de Patoul said that collaborating with Deutsche Bank provides the crypto market maker with access to a respected institution in global finance. He added:

“Their industry expertise, infrastructure, and commitment to innovation make them the ideal partner. Together, we are well-positioned to provide greater value and efficiency in global digital asset markets.”

Meanwhile, Kilian Thalhammer, Deutsche Bank’s Global Head of Merchant Solutions, noted that providing services to Keyrock, one of Europe’s top digital asset liquidity specialists, aligns with the firm’s commitment to supporting tech and fintech innovation.

Deutsche Bank’s crypto advancements

Earlier this year, Deutsche Bank took a major step toward embracing blockchain technology to address challenges in the financial services sector.

As part of its blockchain initiatives, the lender is participating in Singapore’s Project Guardian, an initiative led by the Monetary Authority of Singapore (MAS) to utilize blockchain in financial markets. The bank is curren

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Author: Oluwapelumi Adejumo

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