The financial services company Unchained has emerged as a leading player in the world of Bitcoin custody services, experiencing remarkable growth across various aspects of its business. In the second quarter of 2023, Unchained witnessed an astonishing 170% increase in loans backed by Bitcoin, an 88% spike in institutional and corporate accounts, a 67% jump in private client subscriptions, and a remarkable 260% surge in inheritance service clientele.
Unchained’s success can be largely attributed to its innovative collaborative custody technology, which provides clients with unparalleled control and transparency over their funds. Additionally, the collapse of competing custodian services has further enhanced Unchained’s popularity and strengthened its position as a trusted custodial partner for Bitcoin holders.
The phenomenal growth experienced by Unchained not only reflects the unwavering confidence that Bitcoin holders have in its platform, but also underscores the resilience of Bitcoin as a valuable asset in the financial landscape. As more individuals seek increased security and control over their assets, the decline in Bitcoin holdings on exchanges and the expansion of Unchained’s business accounts serve as compelling indicators of a growing desire for enhanced asset protection.
Of particular interest to institutional and corporate Bitcoin holders is Unchained’s premium collaborative custody offering called Unchained Signature. This service appeals to those seeking to mitigate counter-party risks, and its popularity continues to grow at an impressive rate.
In stark contrast, Ripple – a prominent blockchain firm – endured a challenging legal battle against the Securities and Exchange Commission (SEC), which some believe has had a detrimental impact on the firm and its token, XRP. Lawyer John Deaton, who represents XRP holders, asserts that the lawsuit directly affected the potential mass adoption of XRP, citing the delisting of the token by major adopters like Coinbase and MoneyGram in the wake of the legal proceedings. Deaton also questions whether Coinbase would have invested in Ripple if the lawsuit had not occurred. As a result, MoneyGram severed its partnership with Ripple and forged a new alliance with Stellar.
On a different note, Shibarium, a scaling solution developed by the Shiba Inu team, has recently experienced a phenomenal surge in adoption and user engagement since its launch. Boasting over 10 million registered wallets on the Shibarium network, significant deposits of ETH and BONE tokens have been witnessed. The network did experience a temporary suspension due to high user activity, but the development team responded promptly by addressing concerns and implementing necessary improvements to prevent future outages. Consequently, Shibarium is set to reopen in the near future, poised to continue its remarkable ascent.
As the blockchain industry continues to evolve, platforms like Unchained and Shibarium demonstrate the significance of choice, control, and security in the world of decentralized finance. Bitcoin holders seeking a custodial partner they can trust, and scalability solutions that can handle increasing user activity, have found solace in these innovative offerings. With each passing day, the global adoption of cryptocurrencies and blockchain technology inches closer, ushering in a new era of financial freedom and empowerment for individuals worldwide.