Turnkey holds keys.
We run the financial stack.
Turnkey is enterprise-grade key infrastructure — secure-enclave-backed signing, granular policy on transactions, multi-chain support. Excellent for crypto teams building exchanges, treasuries, and custody products. AgentWallet is the layer on top: cards, fiat rails, MCP, AP2, and the operational surface an agent actually uses. They're complements more than competitors.
Turnkey
Enterprise key management with secure enclaves, granular signing policies, multi-chain support. Used by exchanges, custody products, and crypto fintechs that need bank-grade key control with API simplicity.
AgentWallet
Hosted per-agent financial identity: real Visa, fiat rails, USDC, MCP endpoint, signed principal, AP2 mandates, policy cascade, inbox. Keys are one piece of a larger surface.
CAPABILITY MATRIX
AgentWallet vs Turnkey
| Capability | Turnkey | AgentWallet |
|---|---|---|
| Primary Function | ||
| Secure-enclave key signing | ✓ Best in class | Uses similar primitives |
| Hosted card issuance | × None | ✓ Per-agent virtual + physical |
| Fiat payout rails | × None | ✓ 17 rails · 208 countries |
| Crypto Surface | ||
| Multi-chain signing | ✓ 30+ chains | ✓ Base · Polygon · Solana |
| Granular policy on tx | ✓ Best in class | ✓ Same primitive + cards + rails |
| Secure enclave (SGX/Nitro) | ✓ Nitro | AES-256-GCM sealed |
| Agent Stack | ||
| MCP endpoint | × None | ✓ One URL per agent |
| AP2 mandate signing | × None | ✓ Production |
| Per-agent inbox | × None | ✓ Email/phone/WhatsApp |
| Signed webhooks | Standard | ✓ HMAC + replay protected |
| Operations | ||
| Hosted | ✓ Hosted | ✓ Hosted |
| Multi-tenant orchestration | You build it | ✓ Account → Principal → Agent |
THE DIFFERENCE IN ONE SENTENCE
Turnkey is infrastructure. AgentWallet is the product on top.
Turnkey gives you the building blocks: secure-enclave keys, signing policies, multi-chain support. AgentWallet uses those same primitive ideas (AES-256-GCM-sealed signing keys, per-agent did:web, signing-policy cascade) and packages them with cards, fiat rails, an MCP server, an inbox, mandate-signing protocols, and a multi-tenant control plane. If you're building the next custody product or exchange backend, Turnkey is your foundation. If you're building agent products, AgentWallet ships the whole stack.
Cards and fiat rails are out of Turnkey's scope.
Turnkey signs blockchain transactions in secure enclaves. It does not issue Visas, it does not move ACH or SEPA, it does not run a card vault. For most agent products, "the agent needs to charge AWS" is a hard requirement Turnkey alone cannot satisfy. AgentWallet ships cards + rails + crypto as one surface.
You can layer Turnkey under AgentWallet — but you don't have to.
Some teams want enclave-grade key storage as a compliance requirement. AgentWallet's signing layer is pluggable; running it on Turnkey-managed keys is a supported pattern for enterprise customers. For most agent deployments, AgentWallet's sealed-key + WebAuthn-principal model is enough, and the default.
THE VERDICT
Turnkey for key infra.
AgentWallet for the agent product.
If you're building custody, exchange, or treasury infrastructure where keys are the product, Turnkey is the standard. If you're building agents where the financial behavior is the product, AgentWallet is the stack — and we can sit on Turnkey's keys for the enterprise tier if that's a hard requirement.
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