EU CRYPTO REGISTER · AUTHORISED · LAST VERIFIED
Is KEYROCK licensed under MiCA in the European Union?
KEYROCK's European entity (KEYROCK FR SAS) is recorded as an authorised Crypto-Asset Service Provider under the EU's Markets in Crypto-Assets Regulation, with its authorisation issued by France on 12 June 2026.
Verdict: KEYROCK appears in the ESMA Register of MiCA-Authorised CASPs.
| Legal entity | KEYROCK FR SAS |
|---|---|
| Home Member State | France |
| National Competent Authority | Autorité des Marchés Financiers (AMF) |
| Authorisation date | |
| Legal Entity Identifier (LEI) | 9845001BAFC53ODN8C90 |
| Authorised services | Custody, Exchange for funds, Exchange for crypto, Order execution, Transfer services |
Source: ESMA Register of Crypto-Asset Service Providers. Retrieved 30 June 2026.
About KEYROCK
Keyrock is an institutional digital-asset trading firm and market maker, not a consumer crypto exchange. On its own website Keyrock describes itself as 'building the future of financial services with digital assets' and lists its core activities as market making, options, OTC, and DEX liquidity provision, alongside asset management and ecosystem solutions aimed at institutions and foundations rather than retail users. It states it has operated 'since 2017' and counts firms such as Ripple among its investors. According to research summaries, the group was founded in 2017 in Brussels, Belgium, and is Ripple-backed, with entities across several countries. Sources: Keyrock, Keyrock (France and Liechtenstein)
The contracting legal entity for MiCA purposes is KEYROCK FR SAS, the firm's French subsidiary, regulated by the Autorité des Marchés Financiers (AMF). It appears on the AMF's white list of authorised crypto-asset service providers (CASPs), confirming that it holds a MiCA CASP authorisation in France. Under that authorisation the entity is registered for five ESMA-defined crypto-asset services: custody and administration of crypto-assets on behalf of clients, exchange of crypto-assets for funds, exchange of crypto-assets for other crypto-assets, execution of orders for crypto-assets on behalf of clients, and transfer services for crypto-assets on behalf of clients. Source: AMF white list (KEYROCK FR SAS)
Because Keyrock is an institutional liquidity and trading business, the MiCA licence covers professional crypto-asset services and does not represent a retail-facing exchange product. Research summaries note that Keyrock does not offer spot trading, custody, savings or DCA, staking, or crypto cards for retail users, and that its activity centres on OTC and institutional liquidity across centralised and decentralised venues. The MiCA authorisation therefore does not include any consumer savings, staking-as-a-service, or payment-card offering; it is limited to the five custody, exchange, order-execution, and transfer services listed on the AMF register. Sources: AMF white list (KEYROCK FR SAS), Keyrock
Which crypto services is KEYROCK authorised to offer in the EU?
Under its MiCA authorisation issued by Autorité des Marchés Financiers (AMF), KEYROCK (KEYROCK FR SAS) is approved to provide the following services to EEA residents. Each service is defined in Article 3(1)(16) of Regulation (EU) 2023/1114.
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Providing custody and administration of crypto-assets on behalf of clients
The exchange holds your crypto in its own wallets. Authorisation here means MiCA's segregation and insurance rules apply: client crypto-assets must be ring-fenced from the exchange's own funds.
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Exchange of crypto-assets for funds
The exchange offers crypto-to-fiat (e.g. BTC to EUR) and fiat-to-crypto conversion. Authorisation here implies MiCA's pricing transparency requirements.
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Exchange of crypto-assets for other crypto-assets
The exchange offers crypto-to-crypto trading (e.g. BTC to ETH). Required for most spot trading pairs not denominated in fiat.
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Execution of orders for crypto-assets on behalf of clients
The exchange can place orders for you on third-party venues (smart-routing). Less common in retail crypto; relevant for brokerage-style services.
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Providing transfer services for crypto-assets on behalf of clients
The exchange can move crypto between addresses on your behalf, including off-platform withdrawals. The Travel Rule applies to these transfers.
Which services is KEYROCK not authorised to offer?
KEYROCK's MiCA licence does not cover: Trading platform, Placing, Order R&T, Advice, Portfolio mgmt. These services may still be offered by other authorised providers, or by KEYROCK under a different regulatory framework (for example, derivatives may fall under MiFID II rather than MiCA). Source: ESMA Register, retrieved 30 June 2026.
See other MiCA-authorised exchanges by service:
Why is KEYROCK licensed in France?
France ran one of the EU's earliest national crypto regimes, the PACTE Law DASP (Digital Asset Service Provider) registration, which gave the AMF years of pre-MiCA supervisory experience. The AMF began granting MiCA CASP authorisations in 2025-2026 and also maintains a public white list of CASPs passporting into France from other EEA states. BlockNodes SAS, the French entity behind the SwissBorg consumer brand, received its direct MiCA authorisation from the AMF in March 2026. Source: Autorité des Marchés Financiers (AMF).
| National Competent Authority | Autorité des Marchés Financiers (AMF) |
|---|---|
| Investor compensation | Fonds de Garantie des Dépôts et de Résolution (FGDR); check directly with the AMF for crypto-asset-specific compensation scope. |
| Regulatory context | Early mover on national crypto licensing (PACTE Law) ahead of MiCA; the AMF also publishes a white list of EEA-passported CASPs. |
What does this mean for users of KEYROCK in the EU?
If you transact through KEYROCK's EEA-authorised entity (KEYROCK FR SAS), the protections introduced by MiCA apply to your relationship from onwards. In practical terms this means: client crypto-assets are ring-fenced from the exchange's own funds (Article 70 MiCA), the authorised entity holds prudential capital, has formal complaint-handling procedures, and is subject to transparency obligations on fees and order execution. Source: Regulation (EU) 2023/1114.
One thing to verify yourself: the legal entity you contract with day-to-day must match the entity in the ESMA register. Some global exchanges operate multiple legal entities under one brand. Confirm in KEYROCK's terms of service that your contracting entity is KEYROCK FR SAS, not a non-EEA affiliate.
Which MiCA-authorised exchanges are alternatives to KEYROCK?
Three MiCA-authorised providers to consider. Drawn from the ESMA register, never paid placement.
| Provider | Home Member State | Authorised | Services |
|---|---|---|---|
| Alaric Securities | Bulgaria | 9 services | |
| OKX | Malta | 9 services | |
| Kraken | Ireland | 8 services |
Related reading
Understand the regulatory context behind KEYROCK's entry on the register:
Frequently asked questions about KEYROCK and MiCA
Is KEYROCK licensed under MiCA?
Yes. KEYROCK appears in the ESMA Register of MiCA-Authorised Crypto-Asset Service Providers, with its authorisation issued by the competent authority of France.
Which EU countries can KEYROCK serve under this licence?
A MiCA authorisation in one EEA member state permits passporting across all EEA member states, subject to a notification process to each host-state regulator.
Are my crypto-assets on KEYROCK protected under MiCA?
MiCA introduces ring-fencing of client crypto-assets, prudential capital requirements for the authorised entity, complaint-handling obligations, and conduct rules. It does not provide a deposit-guarantee scheme equivalent to bank deposit insurance.
What's the difference between the authorised entity and the global brand?
Some global exchanges operate multiple legal entities. The MiCA authorisation applies only to the specific legal entity in the ESMA register, not to the global brand. Verify the contracting entity in KEYROCK's terms of service.
Where can I check the official record?
The ESMA register publishes the authoritative list and updates it weekly. The direct link to KEYROCK's entry is on this page under 'Sources'.
Sources
This page is updated weekly. Last verified . If you believe any information on this page is inaccurate, write to our contact page.