Deutsche Bank partners with Keyrock to drive global crypto market making and OTC trading.
Deutsche Bank recently announced a partnership with cryptocurrency market maker Keyrock to optimize their global market-making and over-the-counter (OTC) trading business. This collaboration will allow Keyrock to leverage Deutsche Bank's multi-currency accounts and foreign exchange services. Source
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Consolidating Services to Enhance Efficiency, Actively Expanding Overseas Markets
The purpose of this collaboration:
Reducing Settlement and Counterparty Risks: Keyrock consolidates multiple services and processes them through Deutsche Bank, which helps avoid risks associated with collaborating with multiple banks or other financial institutions.
Multi-Currency Accounts: The multi-currency accounts opened by Deutsche Bank for Keyrock can support over 10 currencies. This eliminates the need for Keyrock to manage currency conversions through different banks, significantly improving transaction efficiency with settlements almost instant.
Simplifying Operational Processes: Keyrock has delegated these complex operational processes to Deutsche Bank, saving time and allowing them to focus more on expanding their business globally.
With the assistance of Deutsche Bank, Keyrock plans to accelerate its expansion into Europe, the Middle East, Africa, Asia-Pacific, and Latin America. Currently active in approximately 400 markets, Keyrock can facilitate trading in over 100 currency pairs.
Deutsche Bank Actively Engaging in the Digital Assets Space
Deutsche Bank not only supports Keyrock but also signed a global partnership agreement with Swiss fintech company Taurus last year to provide digital asset custody and tokenization services to its clients. It also collaborated with the cryptocurrency exchange Bitpanda, allowing Bitpanda to utilize services through Deutsche Bank's API and provide Bitpanda users with German IBAN accounts for real-time fiat settlements.
In addition, Deutsche Bank has participated in the Project Guardian pilot program led by the Monetary Authority of Singapore (MAS), focusing on asset tokenization and testing the application of blockchain technology in regulated financial markets.
Note: IBAN stands for International Bank Account Number, used to facilitate international bank transfers.
Deutsche Bank collaborates with Taurus to venture into digital asset custody and tokenization services
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