Turnkey raises $12.5 million to expand verifiable cloud infrastructure for crypto wallets

Turnkey has raised $12.5 million in strategic funding to expand its stable wallet and verifiable cloud infrastructure.

The round included participation from Archetype, Circle Ventures, Bain Capital Crypto, Lightspeed Faction, Galaxy Ventures, Sequoia Capital and Variant, bringing Turnkey's total funding to over $65 million. The company plans to use the capital to continue its development of Turnkey Verifiable Cloud and take the product to the public.

It provides turnkey crypto applications wallet and key management infrastructure, including non-tenure wallets, automated onchain transactions and policy-controlled signatures. The company says its customers use its infrastructure, including Flutterwave, Tools for Humanity's World app, Polymarket and Anchorage Digital.

The funding comes as crypto infrastructure companies try to serve a wider range of use cases beyond basic wallet creation. Turnkey Verifiable Cloud is designed to enable companies to run sensitive operations in isolated and verifiable secure silos, with data that shows code is executing as intended in a trusted environment.

Stablecoins are changing how value moves online, and AI agents are upending traditional security assumptions, Turnkey CEO and co-founder Bryce Ferguson said in a statement. Turnkey will build an infrastructure that secures both onchain transactions and the off-chain systems they rely on, he added.

Turnkey introduced Verifiable Cloud in private beta in November, saying the platform extends the security model used for its wallet infrastructure to broader workflows such as transaction processing, compliance operations, sensitive government management, encrypted data feeds and privacy-preserving computing. Anchorage Digital is listed as an early beta customer of the product for building marketing visibility tools.

The company has expanded its product lineup with transaction management, gas sponsorships, verifiable wallets, verifiable policy decisions, fiat onramps through Coinbase and MoonPay, and packaged solutions for agent wallets, payment orchestration, and smart contract management.