Unchained vs Xapo Bank

Unchained3.7/5

VS

Xapo Bank4.3/5

Feature	UnchainedVisit	Xapo BankVisit
Ratings
Our score	3.7/5	4.3/5
User rating	No reviews yet	No reviews yet
Rates	2.0	4.0
Security	4.5	4.5
Transparency	4.5	4.5
Flexibility	2.5	4.0
Support	4.0	4.5
Specs
KYC required	Yes	Yes
Products	Crypto-backed loans	Savings / earn, Crypto-backed loans
Highest advertised APY	Not disclosed	4.6%
Max loan-to-value	Not disclosed	40%
Supported assets	1	Not disclosed
Available in	United States	United Kingdom, Global
Insurance	Not disclosed	Gibraltar Deposit Guarantee Scheme covers USD deposits up to £120,000 equivalent; Lloyd's of London covers BTC custody
Licenses & registrations	NMLS ID 1900773, NMLS ID 2656661, NMLS ID 2423070, California Financing Law License	Gibraltar banking licence (GFSC)
Flexible (withdraw any time)	Not disclosed	Yes
Fixed terms	Yes	Not disclosed
Auto-compounding	No	Yes
Company
Founded	2016	2013
Headquarters	United States	Gibraltar
Investors	Valor Equity Partners, NYDIG, Stone Ridge Holdings Group	Not disclosed
Strengths and weaknesses
Pros	Collateral is never rehypothecated and can be audited on-chain at any time Borrowers retain one of three multisig keys on every loan Completed SOC 1 and SOC 2 audits in 2025 Holds established US state lending licenses and NMLS registrations	Licensed Gibraltar bank with deposit guarantee up to £120,000 on USD USD savings earn daily interest paid directly in Bitcoin Bitcoin custody balances are legally segregated from bank operating assets BTC-backed loans allow liquidity up to 40% LTV without selling holdings
Cons	High minimum loan amount of $150,000 restricts smaller borrowers Loan interest rates are 14% to 16.21% APR Supports only Bitcoin, excluding all other crypto assets Requires complete identity verification and serves primarily US residents	$1,000 annual membership fee limits value for smaller depositors Bitcoin holdings are not covered by the Gibraltar Deposit Guarantee Scheme The BTC Credit Fund introduces counterparty credit risk via institutional lending Mandatory KYC identity verification required before account access
Best for	US long-term Bitcoin holders, Corporate treasuries borrowing against Bitcoin, Investors seeking verified non-rehypothecated loans	High-net-worth Bitcoin holders, Savers accumulating Bitcoin yield from cash, Borrowers seeking non-taxable liquidity

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