Turnkey Raises $30M to Modernize Crypto Wallet Infrastructure Amid TradFi-Crypto Convergence

The round was led by Bain Capital Crypto, with support from Sequoia Capital, Lightspeed Faction, Galaxy Ventures, Wintermute Ventures, and Variant—bringing Turnkey’s total funding to over $50 million.

Bridging Finance and Crypto

The New York-based startup believes the industry is reaching a major inflection point, as traditional finance players increasingly embrace crypto infrastructure. With Stripe enabling stablecoin payouts, Robinhood launching a non-custodial wallet, and PayPal introducing its own stablecoin, the divide between TradFi and crypto is narrowing fast.

“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 CEO Bryce Ferguson in a blog post announcing the funding.

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Building for the Next Generation of Crypto Apps

Turnkey provides developers with modern wallet APIs and crypto key management tools tailored for high-frequency, programmable finance. The firm aims to serve growing demand from apps that require more flexible and decentralized wallet solutions.

With its latest funding, Turnkey plans to accelerate product development and expand its team to support the next wave of crypto-native financial services.

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