Crypto investment firm Keyrock is acquiring bankrupt lender Blockfills

2 hours ago

The Brussels-based integer plus services steadfast plans to acquisition BlockFills months aft the Chicago-based institution filed for Chapter 11 bankruptcy, if a tribunal approves.

Jun 1, 2026, 8:48 p.m. 3 min read

Keyrock, a Brussels-based integer plus services firm, is successful the process of acquiring bankrupt crypto trading and lending steadfast Blockfills, according to 2 radical with cognition of the matter.

A Keyrock spokesperson told CoinDesk that the acquisition is taxable to tribunal approval. According to a bankruptcy filing, Keyrock agreed to a acquisition terms of $3.25 million, and volition presume "substantially all" of BlockFills' assets, definite liabilities, immoderate of its equity interests, lawsuit lists and its proprietary exertion and intelligence property.

"We tin corroborate that, arsenic acceptable retired successful the authoritative Bankruptcy Court papers filed connected 26 May 2026, Keyrock SA has been declared the 'Successful Bidder' for definite assets of Reliz Technology Group Holdings Inc. and its affiliated debtors," a Keyrock spokesperson said successful a statement.

"A proceeding to see support of the merchantability is presently scheduled for June [16,] 2026. In the meantime, parties proceed to collaborate connected the administrative process to implicit the transaction. Furthermore, last completion of the transaction remains taxable to last tribunal support and the due regulatory approvals referenced successful Keyrock's bid," they added.

BlockFills provides organization clients with liquidity, financing and risk-management services, including crypto lending and borrowing, derivatives trading, and over-the-counter (OTC) execution. Its lawsuit basal includes hedge funds, plus managers, marketplace makers and mining companies. Keyrock is simply a Brussels-based integer plus services steadfast that provides marketplace making, liquidity, OTC trading and infrastructure solutions to crypto exchanges, institutions and token issuers.

Representatives for BlockFills did not instrumentality a petition for remark by property time.

On March 15, Reliz Ltd., the relation of BlockFills, and 3 affiliated entities filed voluntary Chapter 11 petitions successful the U.S. Bankruptcy Court for the District of Delaware. The court filing showed Reliz reporting assets betwixt $50 cardinal and $100 cardinal against liabilities of $100 cardinal to $500 million.

The steadfast decided to record for bankruptcy aft consulting each stakeholders, it said successful an official statement astatine the time.

"After extended discussions with investors, clients, creditors, and different stakeholders, BlockFills has determined that a voluntary chapter 11 filing is the most responsible path forward in order to preserve the worth of the concern and maximize recoveries for stakeholders. This filing volition let the steadfast to instrumentality an orderly restructuring while maintaining transparency and oversight done the court-supervised process," it said.

CoinDesk reported successful February that the Chicago-based steadfast had suffered losses of astir $75 cardinal and was seeking either a buyer oregon exigency financing.

Earlier that the period the institution announced that it was suspending lawsuit withdrawals and deposits, citing challenging marketplace and fiscal conditions. At the time, BlockFills said it was moving with investors and clients to reconstruct liquidity and scope a resolution.

According to Blockfills, trading measurement exceeded $60 cardinal successful 2025, a 28% summation from the erstwhile year. The steadfast said it served astir 2,000 organization clients and ranked among the much progressive desks successful the organization crypto lending and borrowing market.

The acquisition comes months aft Keyrock raised a Series C circular led by SC Ventures, Standard Chartered's task superior arm, astatine a $1.1 cardinal valuation.

It acquired Turing Capital, a money manager based successful Luxembourg, past fall, successful a propulsion to grow into plus and wealthiness management, it announced successful September.

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