# Unchained

> Unchained is an Austin-based bitcoin financial services company built around collaborative custody - a 2-of-3 multisig model where the client always holds a key. On top of that vault it stacks the things a bitcoin holder actually needs over a lifetime: bitcoin-backed loans, an IRA where you control the keys, a trading desk that settles straight to cold storage, and inheritance planning. Founded in 2016 by Joe Kelly and Dhruv Bansal, it has originated over $1 billion in loans with zero capital losses and helps secure more than 100,000 BTC.

- **Founded:** 2016
- **Headquarters:** Austin, Texas, United States
- **Founders:** Joe Kelly (Co-Founder & CEO), Dhruv Bansal (Co-Founder & Chief Strategy Officer)
- **Team size:** ~140 employees
- **Products:** Collaborative Custody Vaults, Bitcoin-Backed Loans, Bitcoin IRA, Trading Desk, Inheritance Planning
- **Notable:** Originated over $1 billion in bitcoin-backed loans with $0 in capital losses, Helps secure more than 100,000 BTC in collaborative custody, Raised a $60M Series B in April 2023, during a downturn that wiped out several crypto lenders

## Products & services

- **Collaborative Custody Vaults** — 2-of-3 multisignature cold storage where the client holds one key, Unchained holds one, and a third-party key agent holds the backup - so no single party can move funds alone.
- **Bitcoin-Backed Loans** — Commercial loans collateralized by bitcoin held in multisig, with a key the borrower controls to verify collateral is never rehypothecated. Over $1B originated since 2017.
- **Bitcoin IRA** — Traditional, Roth, or SEP retirement accounts holding bitcoin - marketed as the only bitcoin IRA that lets clients hold their own keys.
- **Trading Desk** — Buy and sell bitcoin with settlement directly into a client's cold storage vault, avoiding custodial exchange withdrawals and delays.
- **Inheritance Planning** — Tools and guidance to pass bitcoin to heirs while keeping it in collaborative custody.
- **Signature** — Concierge financial services for ultra-high-net-worth bitcoiners and businesses, including dedicated advisory.
- **Caravan** — Open-source, browser-based multisig coordinator that lets anyone build and manage bitcoin multisig wallets.
- **Gannett Trust** — Wyoming-chartered trust company to expand regulated custody and trust services for bitcoin.

## Achievements

- Originated over $1 billion in bitcoin-backed loans with $0 in capital losses
- Helps secure more than 100,000 BTC in collaborative custody
- Raised a $60M Series B in April 2023, during a downturn that wiped out several crypto lenders
- Pioneered collaborative custody (2019) and launched the first bitcoin IRA with client-held keys (2021)
- Released Caravan, an open-source multisig coordinator, to the bitcoin community
- Secured a Wyoming trust charter (Gannett Trust) in 2025

## Latest updates

- **2025** — Launched the Bitcoin Legacy Project, a multi-year, multi-million-dollar initiative starting with $1M to fund bitcoin education, development, and advocacy.
- **2025** — Partnered with the University of Austin to create the first long-term university endowment held in bitcoin, targeting $5M held for at least five years.
- **2025** — Secured a Wyoming trust charter (Gannett Trust) to expand regulated custody and trust services.
- **2023-10** — Introduced an advisory service aimed at wealthy clients and reported roughly $2B in bitcoin assets on the platform.
- **2023-04** — Closed a $60M Series B led by Valor Equity Partners to expand its bitcoin financial services.

## Links

- Website: https://unchained.com
- LinkedIn: https://www.linkedin.com/company/unchainedcom
- Twitter/X: https://twitter.com/unchainedcap
- GitHub: https://github.com/unchained-capital
- YouTube: https://www.youtube.com/channel/UCTkCLH1VSjWakXyF6z-mjtA
- Facebook: https://www.facebook.com/unchainedcapital

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Profile page: https://yespress.io/unchained
Published by YesPress — https://yespress.io
Last updated: 2026-08-12