Thursday, November 30, 2017

Unchained Capital Aims At Providing Liquidity To Bitcoin Owners

A new, Austin-based startup, Unchained Capital, launched this morning, saying that it is aiming to bring liquidity to owners of Bitcoin through U.S. dollar denominated, cash loans secured by Bitcoin. According to Unchained Capital, it uses Bitcoin as collateral for loans to individuals who hold a substantial quantity of Bitcoin. Unchained Capital is looking to take advantage of the recent runup in Bitcoin--which briefly surged through $10,000 in the last few days--for investors who'd like to cash in on that increase without actually selling off their Bitcoin investments. Unchained Capital said it will offer up its loans at rates of 10-14 percent APR, and loan periods of three months to two years. Unchained Capital is led by CEO and co-founder Joseph Kelly, and was co-founded by Chief Science Officer Dhruv Bansal. Unchained Capital says it has been in beta for the last year, and finally is now open to the public.