Bain Capital Crypto Leads $30 Million Investment into Turnkey’s Crypto Infrastructure Expansion
BOSTON, June 10, 2025 – In a significant boost to the cryptocurrency sector, Bain Capital Crypto has taken the lead in a recent $30 million investment round aimed at expanding Turnkey’s innovative crypto infrastructure. Turnkey’s CEO, Bryce Ferguson, announced the funding on Monday, highlighting the participation of other prominent investors, including Sequoia Capital, Lightspeed Faction, Galaxy Ventures, Variant, and Wintermute Ventures. This brings Turnkey’s total funding to over $50 million since its inception.
Expanding Crypto Solutions
Founded just three years ago by Ferguson, a former executive at Coinbase Custody, Turnkey focuses on developing key management infrastructure specifically designed for cryptocurrency applications. The company’s mission is to provide secure, scalable, and developer-centric tools that address the shortcomings of traditional custodial systems.
With the recent investment, Turnkey aims to accelerate the development of its technology, which leverages Trusted Execution Environments (TEEs) alongside flexible, modular APIs. This approach promises users cryptographically verifiable security and will enable the platform to support an extensive range of applications without the complexities typically associated with wallet and seed phrase management.
Impact and Adoption
Currently, Turnkey’s infrastructure supports over 50 million embedded wallets and handles millions of transactions weekly across various sectors. Its clientele spans decentralized finance (DeFi), payment solutions, and consumer applications, with known partnerships including those with Bridge, Alchemy, Magic Eden, and Polymarket.
Ferguson expressed optimism about the future of Turnkey, stating that this investment not only enhances their capabilities but also reaffirms confidence in the growing demand for sophisticated and secure crypto infrastructure. He emphasized that as the cryptocurrency landscape continues to evolve, Turnkey will be at the forefront of delivering essential services that cater to developers and users alike.
With this funding round, Turnkey is poised to strengthen its position in the rapidly expanding crypto market, offering tools critical for the increasing adoption of cryptocurrency technologies worldwide.
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