Bitcoin firm Unchained raises $60m
finextra.comUnchained’s collaborative custody model uses bitcoin’s native multisignature capabilities to provide the benefits of self-custody while mitigating its risks. Clients share control of their bitcoin between private keys they hold themselves and private keys held by Unchained and other financial services companies.
The company says that the underlying causes of recent collapses at FTX or BlockFi cannot happen to its clients because it is not able to singularly move or rehypothecate client funds and clients can verify this for themselves at any time.Unchained’s platform secures over $2 billion in bitcoin across thousands of keys around the globe. The company has originated over $500 million in bitcoin-collateralised loans since 2017, while experiencing zero loan losses.
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