On June 9th, a major piece of news emerged in the field of crypto wallet infrastructure. Turnkey, founded by former employees of Coinbase, successfully completed a $30 million Series B financing round. This round of financing was led by Bain Capital Crypto. Lightspeed Faction and Galaxy Ventures are also actively involved.
Since its establishment, Turnkey has been continuously delving into the field of crypto wallet infrastructure. Its team members, relying on their rich experience accumulated at Coinbase, are committed to providing secure, convenient and efficient wallet solutions for cryptocurrency users. This round of $30 million in Series B financing not only highly recognizes its past efforts and achievements, but also injects strong impetus into its future development.
It is understood that Turnkey plans to fully utilize the new funds to expand its current team of only 35 people. In the team expansion, the strengthening of engineering strength has been listed as a key point. With the rapid development of the cryptocurrency market, users’ demands for wallet functions are becoming increasingly diverse and complex. A strong engineering team can ensure that Turnkey continuously exerts efforts in technological innovation, constantly optimizes existing products, and develops new functional modules. For example, enhance the security protection level of the wallet to deal with the increasingly rampant cyber attacks; Optimize the transaction processing speed and enhance the user transaction experience, etc.
Meanwhile, promoting the popularization of the API wallet solution is also an important goal of Turnkey. The API wallet solution enables more third-party applications to conveniently access the crypto wallet service, greatly expanding the application scenarios of crypto wallets. Whether it is the emerging decentralized finance (DeFi) applications or the business expansion of traditional financial institutions into the crypto field, they can all leverage Turnkey’s API wallet solution to quickly build secure and reliable cryptocurrency wallet services, reduce development costs and time costs, and promote the prosperous development of the entire cryptocurrency ecosystem.
In the current cryptocurrency market environment, the significance of wallets as the key entry point connecting users with crypto assets is self-evident. As more and more investors flock to the cryptocurrency market, the demand for secure and user-friendly wallet infrastructure continues to rise. Turnkey’s successful financing this time and the development plan it has formulated are expected to stand out in the fierce market competition, further consolidate its position in the field of crypto wallet infrastructure, set a new benchmark for the industry’s development, and lead the industry towards a more secure, convenient and innovative direction. The subsequent progress of Turnkey in team expansion, the popularization of API wallet solutions, and other aspects deserves close attention from the market.
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