Unchained offers a collaborative custody platform that leverages bitcoin’s native multisignature capabilities to combine self‑custody benefits with mitigated custodial risk. Its platform secures over $2 billion in bitcoin across thousands of keys and the company has originated more than $500 million in bitcoin‑collateralized loans since 2017 with zero loan losses. Product offerings include a trading desk that allows clients to buy bitcoin directly to cold storage and an IRA product that lets clients hold keys within tax‑advantaged retirement accounts. Unchained emphasizes risk management, regulatory compliance, and client service and positions its model as resilient to rehypothecation risks that affected other firms. The company is known for bitcoin education and thought leadership and plans to expand its client base and product suite to bridge into traditional dollar ecosystems around credit, trading, and investment. Management says it will use the new capital to grow distribution and enhance its core financial services delivered through collaborative custody. Unchained Capital builds a full-suite financial services platform focused on customers who hold long-term wealth in bitcoin and insist on private key ownership. Its core product offering includes a bitcoin-backed multisig lending platform supported by third-party funding partners. The company says the partnership with NYDIG accelerated development of its technology and services and contributed to a five-fold increase in its bitcoin-collateralized lending business over the past six months. In February NYDIG took a minority equity stake and agreed to provide $50M of lending capital to Unchained; NYDIG has since expanded that support. The company was founded in 2016 by Joe Kelly and is based in Austin, TX. Unchained Capital operates a bitcoin-backed multisignature lending platform and custody solution that lets clients retain unilateral control of their bitcoin while accessing financial services. The company develops proprietary services and open-source applications to advance multisig for individuals and businesses. Unchained has reached over $1 billion of bitcoin secured and has originated over $80 million in loans. Proceeds from the new financing will be used to grow its 25-person team, deepen its partnership with NYDIG, and expand lending and trade-execution capabilities. The firm plans to grow its suite of services to include bitcoin lending and bitcoin payments infrastructure. Unchained is based in Austin, Texas and was founded in 2016. Unchained Capital provides USD loans secured by customers' long-term cryptocurrency holdings, allowing borrowers to access fiat without selling assets. The company offers Bitcoin- and Ethereum-collateralized loans with terms up to five years and competitive interest rates. It emphasizes custody security using an open-source smart contract, multi-signature cold storage, and hardware wallets, supported by a $150,000 bug bounty and a security audit by Hosho. Unchained recently expanded its lending capabilities to accept ETH in addition to BTC. The firm positions itself as infrastructure for crypto-wealth management and aims to innovate proprietary financial services and wealth management offerings. Funds from the recent raise will be used to expand the team and develop its product suite.

Total raised

$244M

Funding rounds

6

Latest round

Series B

Latest activity

Apr 2023