The 50 Most Interesting Companies In Bitcoin's History: 30/50
Unchained
The Idea: 'Collaborative custody' - a multisig model where Unchained holds one key and the client holds two, meaning the company can never unilaterally access customer Bitcoin. Launched its first product (Bitcoin-collateralized lending) in 2017.
Early Traction: Unchained launched lending against Bitcoin collateral without rehypothecation - a radical concept after the failures of Celsius, BlockFi, and Voyager.
Peak Stats: Secures over 90,000 BTC in collaborative custody for clients.
Status Today: Active. Expanding into full financial services (trading, retirement accounts, inheritance planning) for Bitcoin holders.
Why It Matters:
Unchained's collaborative custody model offered a major improvement to bitcoin backed loans with bitcoin as the collateral, ensuring that hypothecation would not ensue.