Turnkey, a New York-based crypto infrastructure startup founded by former Coinbase employees, has secured $30 million in Series B funding to accelerate the development and expansion of its wallet technology . The funding round was led by Bain Capital Crypto, with participation from Lightspeed Faction, Galaxy Ventures, Wintermute Ventures, and Variant, bringing Turnkey’s total funding to over $50 million.
A New Era for Crypto Wallet Infrastructure
Turnkey is on a mission to modernize how developers and businesses build and manage crypto wallets. The company provides a secure, flexible, and scalable infrastructure layer that enables developers to create user-friendly wallets and crypto applications using robust APIs . This approach is designed to move the industry beyond traditional, custodial systems—often slow and cumbersome—toward high-throughput, programmable, and crypto-native solutions.
“Old school custodial infrastructure might be great for buy-and-hold use cases, but it’s not the right tool for at-scale, crypto-native applications,” said Bryce Ferguson, Turnkey’s co-founder and CEO .
Why This Matters for the Crypto Ecosystem
The crypto wallet sector is rapidly evolving, with major players like Stripe, Robinhood, and PayPal entering the space with new products and stablecoin integrations . Turnkey’s infrastructure is designed to meet the needs of this new landscape, offering:
• Seedless, extension-free wallet integrations
• Cryptographically verifiable architecture for enhanced security
• Flexible APIs for custom business logic
• Infrastructure built for global scale and reliability
Turnkey’s technology is already trusted by leading platforms such as Polymarket (prediction markets), Magic Eden (NFT marketplace), and Bridge (a Stripe-owned stablecoin firm). These partnerships underscore Turnkey’s growing influence and the increasing demand for advanced wallet solutions.
What’s Next for Turnkey?
With the fresh capital, Turnkey plans to expand its team—currently 35 employees—with a focus on engineering talent to drive further innovation . The company aims to stay at the forefront of wallet technology, supporting the next wave of crypto adoption by making wallets more accessible, secure, and developer-friendly .
As the lines between traditional finance and crypto continue to blur, Turnkey’s infrastructure is positioned to play a key role in powering the future of digital assets.
