Bitcoin service provider Unchained raises $60M

Unchained Capitalan American company that offers services from guard and of loans axed Bitcoinhas just collected 60 million dollars in series B.

While the price of the queen of cryptos has gained more than 80% since the beginning of the year to around $30,000, the Texas firm Unchained Capital accelerates this month with a new round of financing of a substantial amount.

On Tuesday, the Bitcoin service provider announced a series B from 60 million dollars led by the investment firm Valor Equity partners. The fundraising also includes the participation of NYDIG, Trammell Venture and Ecliptic Capital. It follows a series A extension of 15 million dollars closed in December 2022.

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Unchained offers a suite of financial services ranging from conservation from BTC via multi-sig safes to loans backed by digital coins. The company founded in 2016 also offers a trading desk allowing to buy bitcoins.

Amidst the market chaos, Unchained has become a highly reliable provider of Bitcoin financial and custody services through superior technology, risk management, regulatory compliance and customer service. Particularly in the lending space, Unchained has differentiated itself by minimizing risk for both the lender and the borrower,” commented Vivek Pattipati, partner at Valor.

Last year, many crypto lenderlike Celsius or BlockFi, were forced to file for bankruptcy in the wake of the collapse of prices on the market.

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Unchained now boasts of securing more than 2 billion dollars of bitcoins and to have issued more than $500 million in BTC-backed loans since 2017, “while incurring no losses.”

The capital raised will allow the company to strengthen its product suite, according to a statement.

The current macroeconomic climate is such that new bitcoiners are being created every day – they just don’t know it yet,” said Unchained boss Joe Kelly.

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