Unchained Partners with Build Asset Management for Bitcoin-Backed Credit Fund
Rebeca Moen Sep 19, 2023 07:15
Unchained, a bitcoin financial service provider, has partnered with Build Asset Management to invest in Unchained loans. The partnership aims to unlock the value of bitcoin for borrowers. Unchained's lending division has a 170% surge in Q1-2023, despite the 2022 crypto market contagion and bitcoin's 65% value drop.
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.
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