tl;dr
Keyrock, a cryptocurrency trading firm, acquires Turing Capital, a Luxembourg-based alternative investment fund manager, to launch an Asset and Wealth Management division targeting institutional and private clients. The move expands Keyrock's focus from market making and trading to long-term digital...
**Keyrock Expands into Asset Management with Turing Capital Acquisition: A New Era for On-Chain Wealth Management?**
Cryptocurrency trading firm Keyrock is making a bold move, vaulting into the asset and wealth management space with the acquisition of Turing Capital, a Luxembourg-based alternative investment fund manager. The deal, unveiled Tuesday, marks the launch of Keyrock’s Asset and Wealth Management division—a new business unit targeting institutional clients and private investors. For a company historically known for market making, options trading, and over-the-counter (OTC) services, this shift signals a strategic pivot toward long-term digital asset strategies.
Based in Brussels, Belgium, Keyrock has built its reputation on liquidity provision and specialized trading services. But with the acquisition of Turing Capital, the firm is now positioning itself as a one-stop shop for digital assets, blending Turing’s investment strategies and Luxembourg’s regulatory infrastructure with Keyrock’s existing platform. The new division will be led by Jorge Schnura, co-founder of Turing Capital, who joins Keyrock’s executive committee as president of the unit.
Schnura, a veteran in alternative investments, sees the merger as a gateway to a blockchain-driven future. “In the near future, all assets will live onchain,” he said, emphasizing that the deal aligns Keyrock to capitalize on the migration of traditional financial products to blockchain infrastructure. This vision isn’t just theoretical: Keyrock has already filed for regulatory approval under the EU’s crypto framework, MiCA, through Liechtenstein’s financial regulator. If approved, the firm plans to offer portfolio management and advisory services, directly challenging both traditional asset managers and crypto-native rivals.
The move underscores a broader industry trend. As institutions increasingly view digital assets as a legitimate class, firms are racing to diversify their offerings. Keyrock’s expansion allows it to cater to the full lifecycle of digital assets—from providing liquidity to crafting long-term investment strategies. “Today’s launch sets the stage for our longer-term ambition: bringing asset management on-chain in a way that truly meets institutional standards,” said Keyrock’s Chief Strategy Officer, Juan David Mendieta.
But the road ahead isn’t without hurdles. Regulatory scrutiny remains a key challenge, especially as the EU’s MiCA framework evolves. Yet for Keyrock, the gamble appears calculated. By merging Turing’s expertise with its own trading prowess, the firm aims to bridge the gap between traditional finance and the decentralized future.
As the lines between crypto and legacy systems blur, Keyrock’s play could redefine what it means to manage wealth in the 21st century. Will on-chain asset management become the new norm? Only time—and the market—will tell.