Deutsche Bank and Keyrock have joined forces to simplify cross-currency operations in digital markets. This collaboration is a significant step for Deutsche Bank, which has been increasing its involvement in the crypto industry over the past year through various partnerships.
The strategic partnership between Deutsche Bank and Keyrock aims to enhance payment and foreign exchange (FX) services for global market-making and over-the-counter (OTC) trading operations. By leveraging Deutsche Bank’s institutional-grade infrastructure, which includes multi-currency accounts in over 10 currencies, integrated FX services, and access to over 100 currency pairs, Keyrock will be able to trade efficiently in various currencies while minimizing counterparty and settlement risks. This partnership will also improve settlement times with global counterparties across Europe, the Middle East, Africa (EMEA), Asia-Pacific (APAC), and Latin America (LATAM).
Kevin de Patoul, the CEO of Keyrock, expressed his excitement about collaborating with Deutsche Bank, highlighting the institution’s expertise, infrastructure, and commitment to innovation. He believes that this partnership will enable both entities to provide greater value and efficiency in global digital asset markets.
On the other hand, Kilian Thalhammer, Deutsche Bank’s Global Head of Merchant Solutions, emphasized the bank’s dedication to supporting tech and fintech innovation by providing services to Keyrock, a prominent digital asset liquidity specialist in Europe.
Deutsche Bank’s involvement in blockchain technology was also highlighted, particularly its participation in Singapore’s Project Guardian led by the Monetary Authority of Singapore (MAS). As part of this initiative, the bank is testing a platform on the Ethereum network to offer tokenized fund services. This demonstrates Deutsche Bank’s proactive approach to embracing digital assets and understanding their increasing importance in financial markets.
Overall, the partnership between Deutsche Bank and Keyrock signifies a significant milestone in streamlining cross-currency operations in digital markets. It not only enhances the capabilities of both entities but also underscores the growing convergence between traditional financial institutions and the crypto industry. This collaboration is a testament to the evolving landscape of finance and the increasing adoption of digital assets in global markets.
