Crypto-trading company Keyrock said it is expanded to asset and wealth management by acquiring Turing Capital, a Luxembourg-registered alternative investment fund manager.
The deal, which was announced on Tuesday, marks the launch of Keyrocks Asset and Wealth Management Division, a new business unit dedicated to institutional customers and private investors.
Keyrock, founded in Brussels, Belgium and best known for its work in market production, opportunities and OTC trading, said it will fold Turing Capital’s investment strategies and Luxembourg Fund Management Structure for its wider platform. The department will be led by Turing Capital co-founder Jorge Schnura, who joins Kyrock’s executive committee as president of the unit.
The company said the expansion will allow it to provide services across the full life cycle of digital assets, from liquidity provisions to long -term investment strategies. “In the near future, all assets will live onchain,” Schnura said, noting that the merger is positioning the group to capture opportunities when traditional financial products migrate to blockchain rails.
Keyrock has also applied for regulatory approval under the EU Crypto Framework Mica through an archiving at Liechtenstein’s financial regulator. If approved, the company plans to offer portfolio management and advisory services aimed at competing directly with traditional asset managers as well as crypto-native players.
“Today’s launch sets the scene for our long-term ambition: To bring asset management on-chain in a way that really meets institutional standards,” Keyrock CSO Juan David Mendieta said in a statement.
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