with one main objective: to provide financial services to people like themselves — long-term bitcoin holders. Since 2017, when Unchained launched its first product, a lending desk that allowed customers to borrow US dollars against their bitcoin, the company has developed into a full-on financial services company for Bitcoiners who value holding their private keys.
But Dhruv and I looked at people like us that held bitcoin for the long term and felt that we were the customer we wanted to serve: the long-term bitcoin holder had sort of no financial services advocate for them, no trusted institution that worked with them in a healthy way. Now, some of our core sweet spots are those people's businesses or their trusts. Unchained is one of the few places that enables you to onboard a trust while you can still hold your keys. It's not like you give them up to some third-party custodian to get those benefits.Unchained Vault is the bread and butter product that most every client uses. 95% of all clients have a vault that's either a personal or business account.
While someone is making a backup of their private key in a live session — off camera, of course — going through those really vulnerable, private steps of initializing , they've got an Unchained representative on the other side coaching them through it, answering any questions and making them feel comfortable. So, yeah, I think you nailed it when you said that security and service come together at Unchained.
People want to think through those decisions practically. The awful reality for a lot of people is you can't talk to your financial advisor, you've got to hide this part of your portfolio. They're not going to be philosophically aligned with you. It’s really difficult when you don’t have that alignment with somebody who should be such a trusted advisor.
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