AUSTIN, Texas--(BUSINESS WIRE)--Unchained Capital, a new kind of financial services company, today launched their first offering: $USD cash loans secured with Bitcoin as collateral. The company, which has been operating in private beta for a year, is now accepting loan applications from the public. Additional financial instruments will be made available to crypto holders on a rolling basis.
Unchained Capital is the first company to solve a fundamental problem for individuals holding a substantial quantity of Bitcoin: how to achieve liquidity without selling their investment. Sixty percent of Bitcoin on the blockchain hasn’t moved in the last twelve months or more. Investors in this new asset class may have realized substantial gains in this time period, but they aren’t able to derive any of Bitcoin’s value without selling it. On top of potentially missing out on future gains, selling Bitcoin incurs additional capital gains taxes. Unchained Capital’s loans offer a new option: achieve liquidity while remaining in the crypto market.
“We believe that crypto investors should have the opportunity to avail themselves of proven financial instruments. To start, we’re focused on offering loans secured by Bitcoin, and we’ll soon be offering loans secured by Ethereum as well,” said Joseph Kelly, CEO and co-founder of Unchained Capital. “These assets may still be novel, but that doesn’t mean that achieving any kind of leverage needs to be complex. We don’t want individuals who created wealth for themselves to lose it because they had no financial freedom.”
Unchained Capital offers competitive rates of 10%-14% APR* and loan periods of three months to two years. Terms include a 50% loan-to-value ratio and monthly interest-only payments. Borrowers do not have to repay the principal until the end of the loan period, when they are free to renew their loan if they so choose.
“We’ve gotten great feedback from our early clients, many of whom have used their loans to pay down more expensive debt or for a real estate transaction," said Dhruv Bansal, Chief Science Officer and co-founder of Unchained Capital. “We focus on transparency and security because we believe that’s the best way to build a business while helping this exciting market grow.”
As of today, Unchained is accepting loan applications from the public. For more information visit https://www.unchained-capital.com.
About Unchained Capital
Unchained Capital is a new kind of financial services company. We lend cash to long-term crypto holders who need liquidity but don’t want to sell their coin.
We believe that crypto investors should have the opportunity to avail themselves of proven financial instruments. Today we’re focused on offering Bitcoin and Ethereum secured $USD cash loans at friendly interest rates, for up to two years.
You shouldn’t have to pay membership fees or buy a new token to start leveraging your crypto assets as collateral. Unchained dispenses with these complexities. We offer competitive rates, unparalleled security, and a clear, transparent path to increased liquidity without capital gains.
Friends don’t let friends sell coin.
For more information visit www.unchained-capital.com
*Disclaimer: A $10,000 loan for 2 years costs $2,500 with $100 in monthly interest payments and one principal payment of $10,000 due at maturity with an Annual Percentage Rate (APR) of 12.5%.