Turnkey Raises $30M Series B Led by Bain Capital Crypto to Scale Secure Wallet Infrastructure Powering 50M+ Wallets and Billions in Crypto Assets

On June 9, 2025, Turnkey raised $30 million in a Series B funding round led by Bain Capital Crypto. This brings the company’s total funding to beyond $50 million to date. Sequoia Capital, Lightspeed Faction, Galaxy Ventures, Wintermute Ventures, and Variant also took part in the round. The funding update was shared via an X post from the company. The funds will be used to expand the team and enhance infrastructure. Investors cited growth metrics and future potential as key factors. The round’s valuation figure was not disclosed in the public update.

Growing Convergence of Traditional Finance and Crypto Services

Turnkey series B funding arrives amid a narrowing gap between traditional finance and crypto services. Companies such as Stripe, Robinhood, and PayPal integrate stablecoin services into their platforms. These firms also explore non-custodial wallet features for broader crypto access. The trend highlights rising demand for accessible blockchain-based financial tools. Development of secure and modular wallet systems remains central to this growing interest. This context sets the stage for the next phase of infrastructure innovation. Regulators are also examining stablecoin and wallet regulations in parallel.

Overcoming Legacy Challenges With the Turnkey Wallet Infrastructure

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. The system aims to simplify 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.

Turnkey Supports 50 Million Wallets as Crypto Adoption Accelerates

Over the last three years, Turnkey worked with Polymarket, Worldcoin, and Stablecoin clients. The service has enabled more than 50 million embedded crypto wallets across various crypto platforms. It also facilitated millions of transactions daily in decentralized applications. The company open-sourced its core operating system, known as QuorumOS, for secure computing. These updates reflect a period of fast scaling and wider activities in the crypto sector. The trend shows growing adoption of modular and secure blockchain solutions.

Turnkey Aims to Shift Finance Toward Open and Verifiable Systems

The Series B funding will support the global expansion of 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.