Turnkey has raised $12.5 million to build out its verifiable cloud infrastructure for crypto wallets. The company plans to use the capital to target stablecoins, AI agents, and onchain applications — three areas where wallet infrastructure is getting stretched.
The details of the raise
The funding round was announced today. No specific lead investor or other backers were named. Turnkey will put the money toward expanding its verifiable cloud infrastructure. That means making wallet operations more transparent and auditable through cryptographic proofs — a growing priority for institutions and developers who manage large pools of assets.
Where the money lands
The company specifically called out stablecoins, AI agents, and onchain applications as its main targets. Stablecoin issuers and custodians need verifiable infrastructure to prove reserves and settlement integrity. For AI agents — software that executes transactions autonomously — verifiable infrastructure ensures the agent's actions are provably correct without relying on a trusted third party. Onchain applications, from DeFi to tokenization, also demand wallet infrastructure that can scale without sacrificing auditability.
The timing isn't accidental. As more value moves onchain and automated agents start managing real assets, the old 'trust us' model for wallet providers doesn't cut it anymore. Verifiable infrastructure uses zero-knowledge proofs and other cryptographic mechanisms to let users independently verify that a wallet operation was executed correctly. Turnkey is betting this approach becomes table stakes for serious crypto finance.
The company hasn't disclosed a timeline for the rollout, but the funding gives it a runway to expand its engineering and go-to-market teams. For now, the focus is on delivering verifiable infrastructure to the stablecoin and AI agent markets first.
