Market Maker KeyRock Secures Swiss Anti-Money Laundering Clearance

The Brussels-based crypto firm joins the likes of BitGo in being approved by standards body VQF.

AccessTimeIconSep 26, 2023 at 11:00 a.m. UTC
Updated Sep 26, 2023 at 3:53 p.m. UTC
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KeyRock has received Swiss regulatory clearance from a government-approved standards body, according to a Tuesday statement by the company.

The market maker, based in Belgium, joins the likes of crypto firm Bitcoin Suisse and custodian BitGo in registering with VQF, a financial standards organization approved by Swiss regulators to monitor compliance with anti-money laundering standards.

“Securing the VQF membership reinforces Keyrock’s stance on upholding rigorous regulatory standards within the crypto space,” KeyRock Chief Executive Officer Kevin de Patoul said in a statement. “Our focus remains steadfast on ensuring both compliance and trust in our services.”

Earlier this year, de Patoul announced he was moving to Geneva, but added that the company would remain based in Brussels, Belgium. KeyRock, which succeeded in raising $72 million even in the bumpy wake of crypto exchange FTX’s collapse late last year, now says it has operations in over 85 exchanges across more than 400 markets.

VQF says it’s the largest and oldest self-regulatory organization in Switzerland and is approved by financial regulator FINMA to monitor compliance with anti-money laundering laws.

Edited by Sandali Handagama.


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Jack Schickler

Jack Schickler was a CoinDesk reporter focused on crypto regulations, based in Brussels, Belgium. He doesn’t own any crypto.

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