Keyrock, a Brussels-based digital asset providers agency, is within the strategy of buying bankrupt crypto buying and selling and lending agency Blockfills, based on two folks with data of the matter.
A Keyrock spokesperson informed CoinDesk that the acquisition is topic to courtroom approval. In keeping with a bankruptcy filingKeyrock agreed to a purchase order value of $3.25 million, and can assume “considerably all” of BlockFills’ belongings, sure liabilities, a few of its fairness pursuits, buyer lists and its proprietary expertise and mental property.
“We will affirm that, as set out within the official Chapter Courtroom doc filed on 26 Might 2026, Keyrock SA has been declared the ‘Profitable Bidder’ for sure belongings of Reliz Expertise Group Holdings Inc. and its affiliated debtors,” a Keyrock spokesperson stated in an announcement.
“A listening to to contemplate approval of the sale is at the moment scheduled for June (16,) 2026. Within the meantime, events proceed to collaborate on the executive course of to finish the transaction. Moreover, remaining completion of the transaction stays topic to remaining courtroom approval and the suitable regulatory approvals referenced in Keyrock’s bid,” they added.
BlockFills offers institutional purchasers with liquidity, financing and risk-management providers, together with crypto lending and borrowing, derivatives buying and selling, and over-the-counter (OTC) execution. Its buyer base contains hedge funds, asset managers, market makers and mining corporations. Keyrock is a Brussels-based digital asset providers agency that gives market making, liquidity, OTC buying and selling and infrastructure options to crypto exchanges, establishments and token issuers.
Representatives for BlockFills didn’t return a request for remark by press time.
On March 15, Reliz Ltd., the operator of BlockFills, and three affiliated entities filed voluntary Chapter 11 petitions within the U.S. Chapter Courtroom for the District of Delaware. The court filing confirmed Reliz reporting belongings between $50 million and $100 million towards liabilities of $100 million to $500 million.
The agency determined to file for chapter after consulting all stakeholders, it stated in an official statement on the time.
“After in depth discussions with traders, purchasers, collectors, and different stakeholders, BlockFills has decided that a voluntary chapter 11 submitting is probably the most accountable path ahead so as to protect the worth of the enterprise and maximize recoveries for stakeholders. This submitting will permit the agency to implement an orderly restructuring whereas sustaining transparency and oversight via the court-supervised course of,” it stated.
CoinDesk reported in February that the Chicago-based agency had suffered losses of roughly $75 million and was looking for both a buyer or emergency financing.
Earlier that the month the corporate introduced that it was suspending customer withdrawals and depositsciting difficult market and monetary situations. On the time, BlockFills stated it was working with traders and purchasers to revive liquidity and attain a decision.
In keeping with Blockfills, buying and selling quantity exceeded $60 billion in 2025, a 28% enhance from the earlier 12 months. The agency stated it served roughly 2,000 institutional purchasers and ranked among the many extra energetic desks within the institutional crypto lending and borrowing market.
The acquisition comes months after Keyrock raised a Sequence C spherical led by SC Ventures, Customary Chartered’s enterprise capital arm, at a $1.1 billion valuation.
It acquired Turing Capitala fund supervisor based mostly in Luxembourg, final fall, in a push to broaden into asset and wealth administration, it introduced in September.
Learn extra: Crypto trading firm BlockFills files for bankruptcy
