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Unchained Partners with Build Asset Management for Bitcoin-Backed Credit Fund

Unchained, a prominent financial service provider for bitcoin holders, has unveiled a strategic partnership with Build Asset Management, the sponsor of Build Secured Income Fund I. This collaboration is set to focus on investments in Unchained loans.

Joe Kelly, co-founder and CEO of Unchained, remarked, “This partnership will allow more of our borrowers to unlock the value of their bitcoin.”

Since its inception in 2017, Unchained’s lending division has successfully originated loans exceeding $500 million, with no recorded dollar losses. The company attributes its stellar loan portfolio performance to its collaborative custody solution, the round-the-clock liquidity of assets, and the transparency provided by bitcoin’s blockchain.

Data reveals a significant 170% surge in Unchained’s lending activities from Q1 to Q2 2023. This uptick came in the wake of the 2022 crypto market contagion, a period marked by the bankruptcy of several lenders, resulting in losses surpassing $5 billion in customer funds. Additionally, bitcoin’s value plummeted by over 65%. Despite these setbacks, the data underscores the sustained trust in Unchained’s platform and bitcoin as a viable asset.

Established in 2016, Unchained ranks among the top 10 bitcoin platforms based on secured assets. The company has empowered numerous individuals and businesses to have genuine ownership of their wealth through bitcoin keys. Unchained’s unique collaborative custody model offers clients access to financial services while retaining the advantages of self-custody.

Build Asset Management, LLC, also recognized as Build Asset Management or GetBuilding.com, is an investment adviser registered with the U.S. Securities and Exchange Commission. Founded in 2018, Build’s primary objective is to devise income and risk mitigation strategies in response to the evolving investment landscape.

Unchained Forms Strategic Alliance with Bakkt to Enhance Bitcoin Custody Network

Unchained, a player in the bitcoin financial services sector, has announced a strategic partnership with Bakkt on November 15, 2023, marking a significant expansion of its Collaborative Custody Network. This alliance not only strengthens Unchained’s position in the cryptocurrency custody landscape but also enhances its capability to secure over $3 billion in bitcoin assets for its clients. The announcement reflects Unchained’s substantial growth, with a nearly 40% increase in secured bitcoin assets since October 2022.

Established in 2016, Unchained has been instrumental in helping individuals and businesses gain true ownership of their wealth through bitcoin key holding. The company’s collaborative custody model, which combines the advantages of financial services with the benefits of self-custody, stands as a testament to consumer protection in the uncertain economic climate. With its headquarters in Austin, Texas, Unchained’s network now includes Bakkt, alongside Coincover and Kingdom Trust, offering an unmatched breadth in the industry for secure bitcoin storage.

The inclusion of Bakkt, founded in 2018 by Intercontinental Exchange, Inc. (ICE) and renowned for its institutional-grade custody, trading, and onboarding capabilities, complements Unchained’s commitment to providing secure and compliant crypto infrastructure. Bakkt Custody, operated by Bakkt Trust Company LLC and an NYDFS Qualified Custodian, adds significant credibility to Unchained’s custody solutions, reinforcing client confidence in asset safety.

Unchained’s innovative approach to bitcoin treasury security involves a model requiring multiple private keys for access, thereby reducing risks associated with exchange hacks and self-custody challenges. Clients have the flexibility to hold a private key or distribute it among trusted custodians, including Bakkt. This method resonates with Unchained’s belief that a decentralized custody solution is more robust than relying on a single custodian.

Gavin Michael, CEO and President of Bakkt, highlights the critical need for qualified custody in the volatile cryptocurrency market. Bakkt’s entry into Unchained’s enterprise custody network is a strategic move to cater to clients seeking regulated and secure bitcoin custodians. Emphasizing security and compliance as Bakkt’s core values, Michael anticipates a fruitful collaboration with Unchained.

Joe Kelly, CEO and co-founder of Unchained, expresses his enthusiasm for the partnership with Bakkt, emphasizing the alignment of both companies in prioritizing client asset security. Kelly underscores the importance of providing bitcoin storage options that safeguard against single points of failure and enable clients to independently verify the safety of their assets.

This collaboration follows the recent addition of Coincover to Unchained’s network in October. As Unchained continues to expand its custody partnerships, it maintains a focus on empowering clients with unilateral control over private keys, a cornerstone of secure and autonomous asset management.

Unchained and Bakkt are scheduled to host a joint webinar on November 16, 2023, to discuss the intricacies and advantages of collaborative custody as a risk management solution.

Bakkt Joins Unchained's Network for Enhanced Crypto Custody Solutions

In an evolving digital asset landscape, security and regulatory compliance remain paramount for institutions handling cryptocurrencies. Bakkt Holdings, Inc. (NYSE: BKKT), a trusted digital asset platform, has announced its integration into Unchained’s collaborative custody network. This strategic move enhances Bakkt’s institutional-grade custody services, providing a robust multi-signature vault solution for bitcoin assets.

Bakkt, since its inception in 2018, has been at the forefront of providing secure and scalable solutions to clients navigating the crypto economy. The collaboration with Unchained Capital, a renowned bitcoin financial services company, marks a pivotal moment in Bakkt’s expansion of custody services. Together, they aim to deliver unparalleled safeguarding capabilities for digital assets.

Unchained’s unique model offers a multi-signature vault that is secured by multiple institutional key agents. The integration of Bakkt as a key agent and institutional signatory fortifies the security framework, addressing the needs of large institutions that demand diverse custody options amidst regulatory uncertainty.

Gavin Michael, CEO of Bakkt, underscores the importance of secure and regulated custody as the core of their business. “With the regulatory landscape in flux, our customers are looking for diverse solutions to secure their bitcoin holdings. Our involvement in Unchained’s network is a testament to our commitment to providing innovative access platforms and scaling our custody capabilities,” said Michael.

Joe Kelly, CEO and co-founder of Unchained, expressed confidence in Bakkt’s role within the network. “Bakkt’s reputation as a regulated custodian aligns perfectly with our mission to offer the safest asset protection, surpassing the security of single-entity solutions,” Kelly added.

The collaboration is not just a technical enhancement but also a strategic alignment that reflects the growing demand for sophisticated crypto custody solutions. As digital assets continue to gain mainstream acceptance, such partnerships are crucial in building the necessary infrastructure for secure asset management in the blockchain space.