Keyrock, a Brussels-based digital asset companies agency, is within the technique of buying bankrupt crypto buying and selling and lending agency Blockfills, in response to two individuals with data of the matter.
A Keyrock spokesperson instructed CoinDesk that the acquisition is topic to courtroom approval. In accordance with a chapter submitting, Keyrock 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 know-how and mental property.
“We will verify 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 mentioned in an announcement.
“A listening to to think about approval of the sale is presently scheduled for June [16,] 2026. Within the meantime, events proceed to collaborate on the executive course of to finish the transaction. Moreover, last completion of the transaction stays topic to last courtroom approval and the suitable regulatory approvals referenced in Keyrock’s bid,” they added.
BlockFills supplies institutional purchasers with liquidity, financing and risk-management companies, together with crypto lending and borrowing, derivatives buying and selling, and over-the-counter (OTC) execution. Its buyer base consists of hedge funds, asset managers, market makers and mining firms. Keyrock is a Brussels-based digital asset companies 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 courtroom submitting 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 mentioned in an official assertion on the time.
“After intensive discussions with buyers, 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 enable the agency to implement an orderly restructuring whereas sustaining transparency and oversight by the court-supervised course of,” it mentioned.
CoinDesk reported in February that the Chicago-based agency had suffered losses of roughly $75 million and was looking for both a purchaser or emergency financing.
Earlier that the month the corporate introduced that it was suspending buyer withdrawals and deposits, citing difficult market and monetary circumstances. On the time, BlockFills mentioned it was working with buyers and purchasers to revive liquidity and attain a decision.
In accordance with Blockfills, buying and selling quantity exceeded $60 billion in 2025, a 28% enhance from the earlier yr. The agency mentioned it served roughly 2,000 institutional purchasers and ranked among the many extra lively 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 Capital, a fund supervisor primarily based in Luxembourg, final fall, in a push to increase into asset and wealth administration, it introduced in September.
Learn extra: Crypto buying and selling agency BlockFills information for chapter