APR15.2%(Fixed)
Risk score29Low
Founded in 2016 in Austin, TX, Unchained Capital provides Bitcoin-native financial services, offering multisig vaults, trading, inheritance planning, IRAs, and Bitcoin-backed loans with collaborative custody—ensuring no rehypothecation of assets.
Interest rate
Fixed (e.g. 13%)
Currency support
USD
Fees
2%
Collateral
BTC
LTV
Up to 50%
Loan type
Business
Liquidation LTV
83%
Margin call
66%
KYC
Yes
Total loan issued
N/A
Launch year
2017
Loan duration
12m
Support
Email, Phone
Loan value
$150,000 - N/A
Total risk score29Low
Collateral
0/10
What are you pledging? Native BTC is safest; wrappers, bridges, or paper IOUs add redemption risk.
Native BTC (on-chain UTXO).
Rehypothecation
0/10
Will your BTC be re-used? More hidden leverage → bigger blow-up chance.
Non-rehypothecable collateral.
Custody
2/10
Who can move the coins? Scores quorum design, recovery paths, and (for CeFi) bankruptcy-remote segregation.
Cold 2-of-3 multisig; borrower minority key plus Unchained and an independent qualified custodian (e.g., Kingdom Trust) as co-signers.
Security & Governance
4/10
How battle-tested are code and ops? Counts audits, bug-bounty, certs, and hardware key isolation.
Unchained announced completion of SOC 1 & 2 Type 2 audits in late 2022. Kingdom Trust (Unchained's partner and one of the keyholders in the escrow multisig) is regulated by South Dakota’s banking authority but has not published any independent audit of its Bitcoin key management.
Platform
0/10
Is the chain or bridge robust? Rates consensus security and smart-contract attack surface.
Native Bitcoin script.
Oracle
7/10
How is price fetched and signed? Independence, on-chain proofs, refresh speed, circuit breakers.
Single-source price feed (Bitstamp API) refreshed every 2-3 min; no second oracle, on-chain anchor, or circuit-breaker.
Liquidation Buffer
2/10
How much room and time before liquidation? Combines LTV gap, grace window, and flash-crash guards.
33pp cushion (~50–83% LTV) with 24h grace, no auto-pause.
Rate & Term
2/10
Can interest spike mid-loan? Looks at fixed vs variable APR and funding duration match.
Fixed APR (~13 – 15 %) for 6- or 12-month terms; funding stack undisclosed, but rate cannot change mid-loan.
Transparency
4/10
Can outsiders verify code & solvency? Rewards open-source + live PoR; punishes black boxes.
Borrowers can view their collateral UTXOs on-chain and signer code is open-source, but no firm-wide proof-of-reserves or liabilities. Unchained is built on the browser and cannot be reproduced.
Loan Currency
2/10
What asset do you borrow? Native-BTC best; fiat stables graded on reserves, audits, censorship risk.
US dollars.
Privacy
7/10
How exposed is your identity? Scores KYC depth, data storage, and breach history.
Mandatory photo-ID KYC; client data stored with third-party providers.
History
4/10
Have they proven themselves? Measures years live, audit/OSS footprint, and incident track record.
Unchained Capital – 2022 email-marketing data leak (no keys/funds lost); multiple SOC 1 & 2 audits and OSS Caravan, but the leak breaks the "zero-incident" bar.
Jurisdiction
2/10
Which legal system backs you? Rates clarity of licensing, creditor rights, and enforcement.
U.S. MSB plus state lending licences (NMLS IDs published).