Turnkey launches Galaxy Vaults and Swaps to bring institutional yield onchain

Building onchain yield products used to mean juggling multiple providers, writing custom smart contracts, and hoping nothing exploded at 2am. Turnkey, the New York-based developer infrastructure company, is taking a run at that problem with a new integration that embeds Galaxy Digital’s curated vault products directly into its platform.

The integration gives development teams access to Galaxy Vaults alongside swaps functionality, packaged in a way that lets builders customize fee structures without stitching together a patchwork of third-party services.

What Galaxy Vaults actually are

Galaxy Digital launched its Galaxy Curator vaults on July 16, 2026, built on top of the Morpho lending protocol. Think of Morpho as a set of modular lending rails, and Galaxy’s vaults as the curated portfolios sitting on top of those rails, actively managed for institutional clients.

The product comes in two distinct tiers. The Quality Vault targets capital preservation, prioritizing stability over outsize returns. The Enhanced Vault tilts toward higher yields, accepting more risk in exchange for better upside.

Before the Turnkey integration, Galaxy had already distributed these products to more than 2,400 institutional clients through Fireblocks Earn. The Turnkey integration is essentially a new pipe into the same infrastructure.

Galaxy Digital also reported nearly $300M in loan originations through its Galaxy Onchain Financing Rate by Q2 2026.

Why Turnkey’s angle matters

Turnkey was founded by former Coinbase Custody executives. The firm has raised over $65M in total funding, including a $30M Series B in June 2025 and a $12.5M strategic round in May 2026.

The Galaxy Vaults integration is the headline feature, but Turnkey has also wired in support for Yield.xyz and 0x to handle yield access and token swaps respectively. In practical terms, that means a team building on Turnkey can offer users a route from holding a stablecoin to earning structured yield on it, entirely within one integrated surface.

By giving builders explicit control over fee structures, Turnkey is treating revenue model design as a feature, not an afterthought.

The bigger shift happening here

Galaxy’s two-tier vault structure separates the cautious money from the yield-hungry money explicitly. That kind of segmentation is standard practice in traditional asset management and largely absent from DeFi. Its presence here suggests Galaxy is designing specifically for allocators who have investment policy statements to satisfy.

The Morpho lending protocol underneath the vaults adds another layer of credibility. Building institutional products on top of it rather than bespoke contract deployments reduces both audit burden and tail risk.