Providers / Unchained

Unchained

Collaborative custody commercial loan

Commercial-only collaborative custody loan. You hold a key. Higher cost trades for key control.

Best for: Business entities that need key control and larger tickets.

Product and eligibility

Product type

Fixed-term commercial loan

Collateral

BTC only

Eligible borrowers

Business entities only

US availability

Many US states

Custody model

Collaborative multisig

2-of-3 multisig; borrower holds 1 key + independent agent

Rehypothecation

Impossible by design

PoR / audits / insurance

On-chain verifiable 2-of-3

Track record

Strong custody brand; lending is commercial-focused

Notice, grace period, partial vs full sale, and fees all differ by provider.

1. Starting LTV

50%

2. Margin call

CTP violation when CTP falls below 150% (about 66.7% LTV)

3. Cure window

24 hours to clear a CTP violation

4. Liquidation

83%

At 50% starting LTV, Bitcoin must fall about 39.8% for LTV to reach 83%.

Max initial LTV: About 50% (200% collateral-to-principal example)
Liquidation style: Close-out: liquidate enough collateral to repay the loan; remaining returned
Liquidation fee: 2% selling fee on forced liquidation (plus trading-desk fees as disclosed)
Collateral retrieval: No simple mid-loan pull claimed

Rate range	12.0% interest; example 14.18% APR with 2% origination on 12-payment schedule (pricing page)
Origination fee	2.00% (financed into principal)
Prepayment fee	0% claimed
Renewal / refinance	Origination often re-applies
Minimum loan	$150,000
Term options	12-payment interest-only commercial schedule (~12 months)
Liquidation fee	2% selling fee on forced liquidation (plus trading-desk fees as disclosed)
Collateral retrieval	No simple mid-loan pull claimed
US availability	Many US states
Unique features	Borrower holds a key; commercial-only; IRA/custody ecosystem

Business entities that need key control and larger tickets.

You are an individual borrower or need a low minimum.