Keyrock, a provider of crypto trading infrastructure, announced the acquisition of Luxembourg-based alternative investment fund manager Turing Capital for $27.8 million, officially launching its asset and wealth management division. Turing Capital CEO and co-founder Jorge Schnura will oversee Keyrock's on-chain wealth management business and join the company's executive committee.

Keyrock CEO Kevin de Patoul stated that this move will help the company better provide institutional clients with a full range of services, from liquidity to long-term investment strategies. Keyrock has also applied for regulatory registration in Liechtenstein to expand its crypto portfolio management and advisory services. As a Brussels-based market maker, Keyrock provides liquidity services to over 85 centralized and decentralized exchanges worldwide and previously completed a $72 million Series B funding round led by Ripple in 2022. (The Block)