Unchained raises $60M to offer collaborative custody Bitcoin services
Texas-based Unchained Capital hopes to undermine single points of failure and mitigate counterparty risk with its substantial $60 million raise, led by Valor Equity Partners. The bear market grind has not deterred a $60 million raise from a Bitcoin-only company. Unchained, a financial services provider for Bitcoin (BTC) holders, has announced a $60 million Series B funding round led by Valor Equity Partners. NYDIG, Trammell Venture Partners, Ecliptic Capital and Highland Capital Partners also participated. Unchained Capital provides a more secure way to hold fees than storing crypto on centralized exchanges or on a single key solution. The custody model leverages the Bitcoin network's native multi-signature capabilities in that clients share control of their Bitcoin between private keys they hold themselves and private keys held by Unchained or other financial services companies. Multisignature solutions eliminate single points of failure and mitigate counterparty risk by sh...