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Turnkey raises $12.5 million in round backed by Circle Ventures and Sequoia Capital
The new capital will primarily fund the development and public launch of Turnkey Verifiable Cloud, a secure computing product for digital assets.
May 14, 2026, 1:00 p.m. 2 min read
What to know:
- Turnkey raised $12.5 million in a strategic round, bringing total funding to over $65M. Key investors include Archetype, Circle Ventures, and Sequoia Capital.
- The new capital will primarily fund the development and public launch of Turnkey Verifiable Cloud, a secure computing product for digital assets.
- Turnkey specializes in wallet and key-management infrastructure for crypto applications, including non-custodial wallets and automated onchain activity.
Turnkey builds wallet and key-management infrastructure for crypto applications. The company said the new capital will support development of Turnkey Verifiable Cloud, a secure computing product for digital assets and sensitive workloads, ahead of its public launch.
The New York-based firm was founded by former Coinbase Custody employees Bryce Ferguson and Jack Kearney. Its infrastructure is used for non-custodial wallets, automated onchain transactions and policy-controlled signing.
Circle Ventures’ participation links the round to a broader push around stablecoin payments. Circle’s USDC business has become a public-market proxy for stablecoin growth, with analysts tying Circle’s rally to stablecoin adoption and AI agentic finance.
