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The cryptocurrency wallet developer Turnkey has completed a Series B funding round worth 30 million dollars.
The cryptocurrency wallet infrastructure company Crypto Turnkey has raised $30 million in a Series B funding round led by Bain Capital Crypto. Co-founded by Bryce Ferguson and Jack Kearney, Turnkey helps developers build user-friendly wallets through application programming interfaces (APIs), aiming to improve functionality and user experience.
Ferguson stated that the company is transitioning from slow systems to machine-based transactions with higher throughput. Turnkey's clients include the prediction platform Polymarket, the NFT marketplace Magic Eden, and the stablecoin company Bridge owned by Stripe.
This funding round also saw participation from Lightspeed Faction and Galaxy Ventures, who led Turnkey's $15 million Series A round in April 2024. The company plans to expand its engineering team from the current 35 employees.