Turnkey, a startup offering secure Private key Infrastructure to crypto developers, announced that it had raised $7.5 million in a seed round led by Sequoia Capital with participation from Coinbase Ventures and Variant.
Private Key Infrastructure Startup Turnkey Raises $7.5M in Seed Round
A private key is encountered at almost every stage, from the formation of cryptocurrencies to their protection. However, while the security of private keys is a very hard and complex process, the solutions produced for this have been insufficient.
The company was created to provide solutions to these problems with expertise from the past years. The founding team is among the developers of Coinbase Custody. Recognizing that managing and protecting Private Keys was a complex system and that there was no solution to these issues, the team developed Turnkey.
Secure APIs Managing Private Keys
The current institutional authorities have not provided any private key solution for the crypto sector. Due to these problems, crypto developers were forced to create their own solutions. Turnkey, which provides solutions to the problems faced by crypto developers, offers developers as follows:
- Cloud-scale: The platform’s APIs give users the option to create thousands of wallets at once, access any chain, and program the management of all of them.
- Accessible: Using the platform and creating new projects is completely free. In order to make crypto accessible to everyone, the platform is available 24/7 and offers various SDKs to users.
- Secure: Turnkey is designed for enterprises with complex systems and accountability to higher-ups. In this way, developers have maximum control over the private key while providing corporate security.
With the investment, the company also announced the beta test. The features listed above are available to beta testers. With the completion of the beta testing phase, the company plans to make Turnkey public very soon.
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