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Arch Lending vs. Unchained: Multi-asset crypto loans through Anchorage, or multisig collateral with a borrower-held key.

Last reviewed Common questionsMethodology

About Arch Lending

Loans

Arch Lending is a New York-based crypto-backed loan provider founded in February 2022 by Dhruv Patel and Himanshu Sahay (operating entity ChainFi, Inc., NMLS #2637200). Arch is the direct lender for its own product and also originates loans for Onramp's bitcoin-backed lending service announced February 2025. Collateral is held by Anchorage Digital, a federally chartered digital asset bank, in segregated bankruptcy-remote wallets with $100M of Lloyd's of London insurance and no rehypothecation. Arch lends against bitcoin and certain altcoins, with rates ranging from approximately 7.25% APR on $5M+ loans up to roughly 10.49% APR at smaller sizes.

Who each is for

Arch Lending is for

Individuals and businesses who want competitive rates on altcoin collateral with the operational simplicity of institutional qualified custody and a published insurance backstop.

Unchained is for

US business entities who want collateral kept in a multisig vault verifiable on-chain throughout the loan, with the borrower holding 1 of 3 keys rather than relying on a single qualified custodian.

Arch Lending
Unchained
Trading fee
Not applicable
1.00% standard tier. 0.75% Signature tier.
Minimum purchase
Not applicable
$2,000
Recurring / DCA
Not applicable
Not offered
OTC / large trades
Not applicable
Primary buy channel for all vault clients.
Settlement
Not applicable
Into your multisig vault.
Custody model
Not applicable
Collaborative multisig
Key distribution
Not applicable
Client holds 2 keys, Unchained holds 1 key.
Default structure
Not applicable
2-of-3
Other configurations
Not applicable
Quorums up to 15-of-16 are supported on the Signature tier. Connections allow sharing keys with trusted parties.
Recovery if a key is lost
Not applicable
Loss of 1 key is recoverable. The remaining 2 keys still meet the 2-of-3 threshold.
Hardware wallets
Not applicable
Ledger, Trezor, Coldcard, BitBox, Blockstream Jade
Annual cost
Not applicable
$250/year per vault
Default process
Not applicable
Executor locates 1 client key and contacts Unchained with the Inheritance Protocol documents.
Heir technical knowledge required
Not applicable
No bitcoin knowledge required. Executor follows written instructions.
Waiting period
Not applicable
None
Executable without company involvement
Not applicable
Yes. The client's 2 keys remain operable independently of Unchained.
Cost or included tier
Not applicable
Included with Signature. Protocol materials are also available separately.
Account types
Not applicable
Traditional, Roth, SEP
Key control
Not applicable
Client holds 2-of-3 keys in a dedicated IRA vault.
IRA custodian
Not applicable
Fortis Bank (Colorado-chartered, FDIC-supervised)
Account minimum
Not applicable
No minimum balance. $2,000 minimum per trade.
Trading fee
Not applicable
1.50% per trade
Annual fee
Not applicable
$250/year per IRA vault
Lender of record
Arch Lending (direct lender, NMLS #2637200). Also originates loans for Onramp.
Unchained (direct lender)
Eligible borrowers
Individuals and US businesses in approximately 40 states.
Business entities only (LLC, corporation, single-member LLC)
Minimum loan
$5,000 (varies by collateral and state)
$150,000
Interest rate
Approximately 7.25% APR at $5M+ volume tiers; standard rates 8.24% to 10.49% APR
12.0%
LTV at origination
60% at origination for bitcoin (lower for altcoins). Margin call at 70% (24-hour cure window), partial liquidation at 80%, with a ~2% liquidation fee.
50% at origination
Collateral custody during loan
Anchorage Digital Bank holds all collateral in segregated, bankruptcy-remote on-chain wallets. Borrower holds no keys. $100M Lloyd's of London insurance.
Unchained and Fortis Bank each hold one key, which prevents any party from moving bitcoin unilaterally.
RIA
✕
✓
DAF
✕
✓
Trust entity
Not applicable
Gannett Trust Company, LLC
Jurisdiction / charter
Not applicable
Wyoming (chartered May 2025)
Services offered
Not applicable
Personal trust administration, corporate bitcoin treasury, qualified custody, dynasty trusts, and inheritance and estate planning.
Key control
Not applicable
Client-directed. Supports both collaborative custody and qualified custodian configurations.
Minimum assets
Not applicable
Not disclosed
Tier name
Not applicable
Signature
Annual cost
Not applicable
Personal: $6,000 first year, $4,500 renewal. Business: $7,500/year.
Dedicated contact
Not applicable
Dedicated relationship manager with same-day emergency support.
Included services
Not applicable
Vault setup, 2 premium hardware wallets, security reviews, ongoing education, and inheritance setup.
Founded
2022 (operating entity ChainFi, Inc.)
2016
Client funds lent
Collateral held in segregated wallets at Anchorage and not rehypothecated.
Not applicable. No client funds are held, and loans are not rehypothecated.
Proof of reserves
Not disclosed. Custody and reserves are handled by Anchorage Digital Bank.
Not applicable. The client holds their own keys, verifiable on-chain.
SOC certifications
Not publicly disclosed for Arch. Anchorage Digital Bank operates as a federally chartered bank with its own regulatory examinations.
SOC 1 Type II and SOC 2 Type II
US availability
Approximately 40 US states. Excluded states vary; see Arch Lending's about page for the current list.
Most states (varies by product)
International availability
Limited. Marketing is US-centric; press release language references some international jurisdictions.
No

Common questions

Yes. Onramp's bitcoin-backed loan product, announced in February 2025, originates through Arch Lending (ChainFi, Inc.). The Onramp custody experience is multi-institution, and Onramp loan collateral moves to Anchorage during the loan term — both of which are Arch's standard custody arrangement. The legal lender of record on both Arch's direct product and Onramp's loan product is Arch.
Arch uses Anchorage Digital Bank, a federally chartered qualified custodian, with $100M of Lloyd's of London insurance on segregated, bankruptcy-remote wallets. The borrower holds no keys. Unchained collateral sits in a 2-of-3 multisig vault where the borrower holds 1 key, Unchained holds 1, and Fortis Bank holds 1; the borrower can verify the multisig address on-chain throughout the loan. The protection mechanisms are different: Arch uses institutional custody + insurance; Unchained uses borrower-held cryptographic key control.
Yes. Arch lends against bitcoin and certain altcoins. Unchained is bitcoin-only and does not accept other crypto collateral. If your portfolio is multi-asset and you want one provider for all of it, Arch fits; if your collateral is bitcoin-only and you prefer multisig with a borrower-held key, Unchained is structured for that.
Arch publishes standard rates of approximately 8.24%–10.49% APR, dropping to ~7.25% APR at $5M+ volume tiers. Unchained's commercial loan rate is 12.0% APR. Arch's rate advantage reflects the institutional custody-and-insurance model; Unchained's rate reflects a more involved multisig collateral structure with direct on-chain verifiability. Verify current rates from both before borrowing — they have moved rapidly through 2026.

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About this guide

These comparisons are maintained by Unchained. We have tried to represent every service accurately and fairly, and where another service does something well that Unchained does not, we say so. Unchained appears as the reference point throughout because every page is built around a single question: how does this service differ from Unchained? That framing is why Unchained is more prominently featured, not because we consider it the default right answer for every reader.

Disclaimer: Unchained's product and service availability may vary by state. Nothing on this page is investment, tax, legal, or financial advice. Investment advisory services are offered only through Gannett Wealth Advisors. Consult your own advisors before making any financial decision. All financial products involve risk, including loss of principal. Bitcoin is volatile, and past performance does not guarantee future results.

This comparison is provided for informational purposes only and is current as of May 2026. Information about other companies is compiled from publicly available sources, including each company's documentation, regulatory filings, terms of service, and third-party reviews. Offerings, fees, terms, and state availability change frequently and may have changed since publication. Verify all information directly with each company before transacting.

References to other companies are for comparison purposes only and do not imply endorsement, partnership, sponsorship, or affiliation. All third-party names and marks are the property of their respective owners and are used for identification only. Reviewed quarterly; corrections will be addressed within five business days. If you represent a company listed here and/or believe information is inaccurate, fill out a feedback form.

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