Turnkey Secures $30 Million in Series B Funding for Crypto Infrastructure Expansion

On June 9, 2025, Turnkey, a leading crypto infrastructure company, announced the completion of a $30 million Series B funding round. This investment was spearheaded by Bain Capital Crypto, with additional support from Sequoia Capital, Lightspeed Faction, Galaxy Ventures, Wintermute Ventures, and Variant. The funding round brings Turnkey's total investment to over $50 million, highlighting the growing confidence in the company's vision and capabilities.

The funds raised will be strategically allocated to expand Turnkey's engineering and operations teams, as well as to enhance its infrastructure. The company aims to build secure, scalable, and open key management infrastructure, empowering the next era of crypto financial applications. Turnkey's infrastructure supports over 50 million wallets and has open-sourced its secure operating system, QuorumOS, which is designed to simplify key management and enable developer-friendly crypto financial applications.

Turnkey's Series B funding comes at a time when there is a growing convergence between traditional finance and crypto services. Companies are integrating stablecoin services into their platforms and exploring non-custodial wallet features. This trend highlights the rising demand for accessible blockchain-based financial tools and sets the stage for the next phase of infrastructure innovation. Regulators are also examining stablecoin and wallet regulations in parallel, reflecting the increasing importance of secure and modular wallet systems.

The Turnkey Wallet Infrastructure serves as a foundation for crypto-native financial applications. It offers developer-friendly interfaces without requiring traditional crypto wallet setups or seed phrases. Sensitive processes are isolated using Trusted Execution Environments for secure key management. This architecture aims to boost trust and scale in decentralized finance use cases. Developers can build and deploy programs without handling private keys directly, simplifying the integration of payment and trading functions across multiple platforms. Built-in monitoring tools help ensure system health and compliance oversight measures.

Turnkey seeks to overcome the limits of legacy custody systems that hinder blockchain innovation. Traditional infrastructures often block developers from building flexible, automated blockchain services. Turnkey Wallet Infrastructure, with its open and programmable approach, supports use cases like AI-driven agents and DeFi applications. The platform manages large transaction volumes weekly while securing assets valued in the billions. This scale reflects growing reliance on modern blockchain infrastructure for financial services. Its design enables continuous innovation without the constraints of old custody models. Open governance models are planned to encourage community contributions and transparency.

Over the last three years, Turnkey has worked with notable clients, enabling more than 50 million embedded crypto wallets across various crypto platforms. The service has facilitated millions of transactions daily in decentralized applications. The company's open-sourced core operating system, QuorumOS, reflects a period of fast scaling and wider activities in the crypto sector. The trend shows growing adoption of modular and secure blockchain solutions.

The Series B funding will support the global expansion of Turnkey's engineering and operations teams. The company also plans further investment in open-source development and community support. Their mission is to help shift finance from centralized models to verifiable open systems. Despite limited global crypto adoption, scalable systems remain key to future financial networks. Turnkey expects broader developer engagement to drive growth in blockchain-based financial services. The success of this strategy depends on accessible tools and reliable infrastructure for developers.