In March 2019, Unchained Capital launched a Bitcoin multisig vault platform that offers self-custody with the benefits of a managed financial service. This approach allows users to control private keys and to create redundancy by distributing keys among participants who know and trust each other.
This collaborative asset management firm offers financial services based on Bitcoin. Founded by Joseph Kelly and Dhruv Bansal in January 2016, Unchained Capital aims to reduce the risk of crypto-asset custody as it enables high transparency and security.
When using Unchained, users can be sure of better security and more value compared to other platforms. Unchained’s wallet can be used to manage hardware wallets like Trezor and Ledger, and Hermit’s interactions through the browser. It can be used to integrate Bitcoin hardware wallet devices with a multisignature wallet application.
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If you’re wondering how it’s better than other multisig wallet applications, let’s state the pros and cons compared to other similar applications.
Pros:
- Applications are processed faster
- No credit check
- Assets can be monitored transparently
- High security standards
Cons:
- Restricted in certain U.S. states
- Lending is restricted to U.S. only
- Margin calls are more frequent
The team at Unchained is based out of Austin, TX and this DeFi firm is breaking all stereotypes and provide collaborative asset management like cryptocurrency-based loans and secure vaults.
In the United States, Unchained Capital offers their clients the ability to borrow USD against their Bitcoin or Ethereum. The company continues to maintain its focus on transparency and excellent customer service.
Vaults offered by unchained capital will be suitable for:
- Individuals seeking to strengthen the protection of owned assets by state of the art multisig solutions
- Business searching to utilize multisig account hierarchical access with a trusted partner
- Joint accounts who aim to share keys among individuals
This platform has gained popularity among institutions as they offer institution-controlled solutions apart from client-controlled, that enable you to retain sovereignty, where every user controls two out of three private keys.
In such a model, Unchained Capital serves only as a backup or a trusted co-signer. Users trust the platform as it creates new addresses with every withdrawal, which significantly increases security and privacy. As mentioned earlier, the platform offered by Unchained Capital also supports Trezor and Ledger hardware wallets, and the company never has access to a user’s private keys. For now, the multi-institution co-sign platform is the safest solution, used even by the biggest cryptocurrency exchanges in the world.
Crypto backed loans aren’t an entirely new service, as several DeFi platforms have forayed in this space before. Unchained Capital is leading among the few promising DeFi platforms.
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