Digital asset infrastructure companies have seen more attention in recent years, with some fundraises in the hundreds of millions of dollars.

Turnkey, a crypto infrastructure company founded by former Coinbase Custody builders in 2022, has raised $30 million in a Series B round to create an “open infrastructure layer” for crypto, which the company says will help the industry evolve in a similar way to the internet.

Bain Capital Crypto led the round with participation from Sequoia Capital, Galaxy Ventures, Lightspeed Faction, Variant, and Wintermute Ventures. The round brings Turnkey’s total funding to $50 million.

Turnkey specializes in providing wallet infrastructure, enabling embedded wallets that “remove the need to rely on phishable seed phrases.” Its clients include prediction market platform Polymarket, NFT marketplace Magic Eden, and Web3 development platform Alchemy.

The capital will help to scale Turnkey’s engineering, product, go-to-market and operations teams, according to the announcement. Areas that will receive attention include modular infrastructure for payments, AI agents and decentralized finance.

”We’re still early. Less than 10% of the global population uses crypto today, and the infrastructure reflects that. But the foundations we lay now will shape the next decade of digital finance.”