Boston-based startup Turnkey, specializing in wallet infrastructure, has completed a $30 million funding round, bringing its total funding to over $50 million across several rounds.
Bridging Finance and Crypto
Turnkey, based in New York, believes that the industry is reaching a significant inflection point as traditional finance players increasingly embrace crypto infrastructure. Companies like Stripe, Robinhood, and PayPal have begun adopting solutions that blur the lines between traditional finance and cryptocurrency.
"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.
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 the growing demand from apps that require more flexible and decentralized wallet solutions.
Future Plans and Product Development
With its latest funding, Turnkey plans to accelerate product development and expand its team to support the next wave of crypto-native financial services.
The funding for Turnkey highlights the rapid evolution and changing paradigm in finance, where cryptocurrencies and traditional financial services are beginning to intersect, creating new opportunities for startups and developers.
