In a bold move to broaden its horizons, the crypto trading firm Keyrock has announced the acquisition of Luxembourg-based Turing Capital, marking a significant expansion into the realm of asset and wealth management. The deal, revealed on Tuesday, signifies the birth of Keyrock’s new Asset and Wealth Management division, underscoring its ambition to cater to both institutional clients and private investors.
Bridging Traditional Finance and Blockchain
Keyrock, established in Brussels, Belgium, is renowned for its expertise in market making, options, and over-the-counter (OTC) trading. With this acquisition, the firm aims to integrate Turing Capital’s investment strategies and its Luxembourg fund management framework into its existing platform. This strategic move is poised to enhance Keyrock’s ability to offer comprehensive services across the entire lifecycle of digital assets, from liquidity provision to long-term investment strategies.
Jorge Schnura, co-founder of Turing Capital, will steer this new venture as the president of Keyrock’s Asset and Wealth Management division. Schnura has also joined Keyrock’s executive committee, bringing a wealth of experience and a forward-thinking vision to the table. “In the near future, all assets will live onchain,” Schnura stated, emphasizing the merger’s potential to capture new opportunities as traditional financial instruments transition to blockchain technology.
Regulatory Roadmap and Competitive Edge
In a parallel move, Keyrock is pursuing regulatory approval under the European Union’s crypto framework, Markets in Crypto-Assets (MiCA), by filing with Liechtenstein’s financial regulator. Securing this approval would enable Keyrock to offer portfolio management and advisory services, positioning it to compete head-to-head with both traditional asset managers and crypto-native entities. The regulatory nod would not only legitimize Keyrock’s operations within the EU but also enhance its appeal to a broader clientele seeking regulated crypto investment solutions.
Juan David Mendieta, Keyrock’s Chief Strategy Officer, articulated the company’s long-term vision, saying, “Today’s launch sets the stage for our longer-term ambition: bringing asset management on-chain in a way that truly meets institutional standards.” This sentiment reflects Keyrock’s commitment to establishing a robust infrastructure that aligns with the evolving needs of the financial sector.
Navigating the Evolving Crypto Landscape
The acquisition of Turing Capital is a testament to Keyrock’s proactive approach in adapting to the shifting dynamics of the financial industry. As blockchain technology continues to gain traction, the line between traditional finance and digital assets is blurring. By integrating Turing Capital’s capabilities, Keyrock is well-positioned to navigate this convergence, offering innovative solutions that meet the demands of a diverse client base.
However, the journey into asset management is not without its challenges. The crypto market is notoriously volatile, and the regulatory landscape is still in its nascent stages. Keyrock will need to leverage its expertise in market making and risk management to mitigate potential pitfalls and ensure the success of its new division.
A Balanced Outlook on Future Prospects
As Keyrock ventures into asset management, the industry will be watching closely. On one hand, the move could pave the way for other crypto firms to explore similar expansions, fostering a more integrated financial ecosystem. On the other hand, it could spark increased competition, prompting traditional asset managers to accelerate their adoption of blockchain technology.
For investors, Keyrock’s foray into asset management could open new avenues for diversifying portfolios with crypto assets. By providing regulated and structured investment options, Keyrock aims to attract a wider audience, including those who may have been hesitant to enter the crypto space due to regulatory uncertainties.
In conclusion, Keyrock’s acquisition of Turing Capital marks a pivotal moment in the firm’s evolution. As it embarks on this new journey, the crypto trading company is poised to redefine asset management in the digital age, bridging the gap between traditional finance and blockchain innovation. With regulatory approval pending and a visionary leadership team in place, Keyrock is well-equipped to lead the charge in bringing asset management on-chain, setting a precedent for others to follow.
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
