Yigit Taha OZTURK 
While the spotlight in the crypto world often shines on coins and market movements, the real revolution is unfolding quietly behind the scenes—in the infrastructure. Much like the early days of the internet, today’s digital asset ecosystem is being shaped by the foundations being laid by companies like Turnkey.
Rethinking Wallet Infrastructure
Founded in 2022 by former Coinbase Custody engineers, Turnkey provides next-generation wallet infrastructure. Its embedded wallet technology eliminates the need for vulnerable seed phrases, making it easier and safer for developers to integrate crypto into their platforms.
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Notable clients include Web3 platform Alchemy, NFT marketplace Magic Eden, and prediction market Polymarket. The company has now raised $30 million in a Series B round led by Bain Capital Crypto, with participation from Sequoia Capital, Galaxy Ventures, Lightspeed Faction, Variant, and Wintermute Ventures. This brings Turnkey’s total funding to $50 million.
Building the Future of Digital Finance
With the new funding, Turnkey plans to scale its engineering, product, go-to-market, and operations teams. Focus areas include modular payment infrastructure, AI-powered agents, and decentralized finance applications.
The company emphasizes that less than 10% of the global population currently uses crypto. Yet, the infrastructure being built today will be crucial in shaping the next decade of digital finance.
Rising Demand for Infrastructure
Investor interest in blockchain infrastructure has surged in recent years. In 2022, Fireblocks raised $550 million, while Blockdaemon secured $362 million across two rounds. Privy, a direct competitor to Turnkey, also raised a total of $40 million earlier this year.
According to Market Research Future, the blockchain infrastructure market is projected to grow from $27.4 billion in 2025 to $221.4 billion by 2034. Its applications are expected to expand beyond crypto into supply chain management, energy systems, and disaster recovery.
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