Turnkey Raises $30M For Open Crypto Infrastructure
Turnkey, a crypto infrastructure company founded in 2022, has raised $30 million in a Series B funding round led by Bain Capital Crypto, bringing total funding to $50 million. The company aims to create an “open infrastructure layer” for crypto, enhancing industry evolution akin to the internet. Turnkey specializes in wallet infrastructure, eliminating reliance on phishable seed phrases, with clients including Polymarket, Magic Eden, and Alchemy. The new capital will support scaling engineering, product development, and operations, focusing on modular infrastructure for payments, AI agents, and decentralized finance. The blockchain infrastructure sector is experiencing significant investment growth, with projections indicating a market size of $221.4 billion by 2034. Blockchain technology is also anticipated to improve supply chain management, energy distribution, and disaster recovery capabilities.
