After a three-month slide, the market cap of 100 largest cryptocurrencies reached €349B ($425B) this week. But when trading increases in nascent markets, the availability of cash on hand or an asset that can be readily converted to cash becomes a major challenge. The problem is especially true for the young and inefficient crypto market. Brussels-based startup Keyrock is trying to solve the problem by providing liquidity and market making services to the crypto ecosystem.
The startup raised €900k in a seed round led by Volta Ventures. Other investors include Brussels-based Seeder Fund, Luxembourg-based TNN Capital, and experienced crypto investors. Keyrock plans to use the funding proceeds to accelerate product and business development.