Bryce Ferguson
Turnkey, the New York-based crypto wallet infrastructure company founded by former Coinbase Custody employees, has raised $12.5 million in new funding as it prepares to bring its Verifiable Cloud product to market.
The round lifted the company’s total funding to more than $65 million. According to the company, the financing drew support from Circle Ventures, Sequoia Capital, Archetype, Bain Capital Crypto, Lightspeed Faction, Galaxy Ventures and Variant.
Turnkey builds key-management tools for crypto applications, including noncustodial wallets, automated on-chain transactions and policy-based signing. Its customer list includes Flutterwave, Polymarket and World App, placing it in a part of the market increasingly shaped by stablecoin payments and machine-driven financial activity.
The fresh capital is set to go largely toward Turnkey Verifiable Cloud, a system the company says is designed to let businesses handle sensitive crypto tasks in a verifiable computing environment. Those tasks include transaction signing, policy decisions and other wallet operations that demand tighter controls than conventional infrastructure can offer.
Bryce Ferguson, Turnkey’s CEO and co-founder, said the product is meant to address two fast-moving shifts in the market: the expansion of stablecoins and the rise of AI agents making on-chain decisions.
“Stablecoins are transforming how value moves online, and AI agents are upending traditional security assumptions,” Ferguson said. “Verifiable Cloud is our answer to the security and compliance demands of the next wave of crypto applications.”
The company’s latest raise follows a $30 million Series B led by Bain Capital Crypto in 2025, underscoring continued investor interest in infrastructure that sits deeper in the crypto stack. That interest has also extended to Circle, the issuer of USDC, which has used its venture arm to back companies building payment and programmable commerce tools around stablecoins.
The new funding comes as crypto infrastructure firms increasingly pitch their products not just to traders and developers, but also to enterprises looking for secure ways to automate digital-asset operations. Turnkey is positioning itself squarely in that lane, betting that verifiable execution and policy controls will matter more as crypto activity becomes more embedded in payments, software and AI-driven workflows.
[Noah Wire Services helped in the writing of this article.]