Brussels-based digital asset providers agency Keylock is within the technique of buying bankrupt cryptocurrency buying and selling and lending firm Blockfils, two folks accustomed to the matter mentioned.
A Keylock spokesperson informed CoinDesk that the acquisition requires court docket approval. In accordance with the chapter submitting, Keylock has agreed to a purchase order value of $3.25 million and can assume “considerably all” of Blockfils' property, sure debt, a portion of its inventory, buyer listing, proprietary know-how and mental property.
“We are able to verify that Keyrock SA has been declared the ‘successful bidder’ for sure property of Reliz Expertise Group Holdings Inc. and its affiliated debtors, as set forth in official chapter court docket paperwork filed on Could 26, 2026,” a Keyrock spokesperson mentioned in an announcement.
“A public listening to to contemplate approval of the sale is presently scheduled for June 16, 2026. Within the meantime, the events proceed to collaborate on the executive course of to shut the transaction. Moreover, the ultimate closing of the transaction stays topic to last court docket approval and acceptable regulatory approvals referenced in Keylock's bid,” they added.
BlockFills offers liquidity, funding, and threat administration providers to institutional purchasers, together with cryptocurrency 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 firm that gives market making, liquidity, OTC buying and selling and infrastructure options to cryptocurrency exchanges, establishments and token issuers.
Representatives for BlockFills didn’t reply to requests for remark by press time.
On March 15, BlockFills operator Reliz Ltd. and three affiliated corporations filed a voluntary Chapter 11 petition within the U.S. Chapter Court docket for the District of Delaware. In accordance with court docket filings, Reliz experiences property of $50 million to $100 million towards money owed of $100 million to $500 million.
The corporate mentioned in an official assertion on the time that it had determined to file for chapter after consulting with all stakeholders.
“After intensive discussions with buyers, clients, collectors and different stakeholders, Blockfils has decided {that a} voluntary Chapter 11 submitting is essentially the most accountable step ahead so as to protect the worth of the enterprise and maximize restoration for stakeholders. This submitting will permit the corporate to conduct an orderly restructuring whereas sustaining transparency and oversight by way of a court-supervised course of,” the corporate mentioned.
CoinDesk reported in February that the Chicago-based firm was struggling losses of about $75 million and was on the lookout for a purchaser or emergency financing.
Earlier within the month, the corporate introduced it might droop withdrawals and deposits for its clients, citing troublesome market and monetary circumstances. On the time, Blockfils mentioned it was working with buyers and clients to revive liquidity and attain a decision.
In accordance with Blockfills, transaction quantity in 2025 will exceed $60 billion, a rise of 28% from the earlier yr. The corporate mentioned it serves roughly 2,000 institutional purchasers and ranks as some of the energetic desks within the institutional cryptocurrency lending market.
The acquisition comes months after Keyrock raised a Collection C spherical led by Commonplace Chartered's enterprise capital arm SC Ventures at a valuation of $1.1 billion.
It introduced in September that it had acquired Luxembourg-based fund supervisor Turing Capital final fall because it goals to develop into the asset and wealth administration discipline.
Learn extra: Crypto buying and selling firm BlockFills information for chapter
