Crypto Infrastructure Developer Turnkey Raises $12.5 Million in Strategic Funding

Founded by former Coinbase Custody engineers, Turnkey provides embedded crypto wallets, key management and signing infrastructure to help businesses safeguard and operate digital assets. As stablecoins, on-chain finance and AI agents expand, institutional adoption of crypto services increasingly depends on the ability to perform sensitive computations without exposing private keys.

Turnkey said on May 14, 2026, that it had raised $12.5 million in strategic funding, with participation from Archetype and Circle Ventures. Existing investors Bain Capital Crypto, Lightspeed Faction, Galaxy Ventures, Sequoia Capital and Variant also joined the round, bringing total funding to more than $65 million. The proceeds will support development and the public launch of Turnkey Verifiable Cloud, as well as team expansion.