Turnkey has raised $30 million to enhance its cryptocurrency infrastructure, marking a significant step in the development of their wallet solutions.
Importance of Funding for Crypto Infrastructure
The funding is a significant step toward advancing crypto infrastructure, supporting a shift from basic storage solutions to high-throughput transaction capabilities.
Backing from Investors and Team Expertise
Bryce Ferguson, CEO of Turnkey, emphasized the need to transition from older systems to machine-based transactions that will enable higher throughput. He noted:
CITE_W_A: "We’re moving from this world of these slow, clunky systems that were designed for buying and holding crypto to very high throughput, machine-based transactions."
Impact on Crypto Market and Transaction Automation
Turnkey's infrastructure significantly impacts various sectors of cryptocurrencies, and the new funding is intended to bolster engineering teams and enhance global operations. This could improve transaction efficiency and attract developers to supported platforms.
The raised funds underscore the growing demand for sophisticated wallet infrastructure within the cryptocurrency industry. The backing from major players marks a pivotal expansion phase for Turnkey, reinforcing the movement toward automation and seamless transactions.
