• Unchained, a Bitcoin financial service provider, recently raised $60 million in its Series B funding round.
• The investment was led by Valor Equity Partners and included participation from existing investors such as NYDIG, Trammell Venture Partners, Ecliptic Capital and Highland Capital Partners.
• Unchained plans to use the new funding to grow its client base and expand its suite of services.

Unchained Raises $60 Million

Unchained, a US-based Bitcoin (BTC) financial services provider, recently announced that it has raised $60 million in its Series B funding round. The round was led by Valor Equity Partners with participation from existing investors including NYDIG, Trammell Venture Partners, Ecliptic Capital and Highland Capital Partners.

Use of Funds

Unchained plans to use the new funding to grow its client base and improve upon its core suite of financial services delivered through collaborative custody. It also intends to expand its product offerings and create more opportunities for investors to engage with dollars directly on the platform.

Bitcoin Adoption Growing

According to Unchained’s CEO Joe Kelly, Bitcoin adoption is growing but there is an opportunity for products that bridge into the traditional dollar ecosystem around credit, trading, investment and other financial services. He believes that these new entrants will “leapfrog centralized custodians” straight into a “safer collaborative custody model.”

Profit From Crypto Firms’ Failures

Kelly said that despite trading volumes and loan demand declining in line with other industry players due to recent crypto failures, Unchained managed to gain new customers from these failures.

Aims To Enable More People To Enter Bitcoin

The co-founders of Unchained stated their intent to enable more people to enter bitcoin by expanding Unhained’s services and reach thanks to this new capital injection. They believe that this will further help drive adoption of cryptocurrency as well as truly own their wealth in bitcoin.