Arch (Standard) vs Unchained
A low-rate qualified-custodian loan against collaborative multisig you help control.
Rates as of June 2026 · Verified weekly · By Michael Song
Arch (Standard)$100k loan, 50% LTV · Max LTV 60%
Unchained$100k loan, 50% LTV · Max LTV 50%
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The bottom line
Arch (Standard) is far cheaper (around 7.25% vs 14.18%) and uses Anchorage qualified custody at a 60% LTV. Unchained costs the most in our set, but its 2-of-3 multisig means you hold a key and no party can move the collateral alone, verifiable on-chain. Choose Arch for rate and leverage; choose Unchained only if holding a key yourself is worth a large rate premium.
Conditional guidance, not a recommendation. The right pick depends on your loan size, LTV, state, and what you value most. Rates can change; the table below is the live source.
Arch (Standard) vs Unchained, side by side
| Arch (Standard) | Unchained | |
|---|---|---|
| Effective APR$100k loan, 50% LTV, all-in | 10.49% | 14.18% |
| Starting APR | 7.25% | 14.18% |
| Origination fee | 1.49% | 2% |
| Liquidation fee | 2% | 2% |
| Max LTV | 60% | 50% |
| Custody model | Qualified custodian (Anchorage Digital) | Collaborative multisig (Fortis Bank) |
| Rehypothecation | No | No |
| Margin-call cure window | 24 hours | 24 hours |
| Funding speed | Same day to 1 day | 2 days |
| Minimum loan | $5,000 | $150,000 |
| Maximum loan | No stated maximum | $1,000,000 |
| Loan terms | 1 to 12 months; interest-only; rollover available at maturity | 90 to 360 days; standard is 360 days (interest-only, principal at maturity); refinance available at maturity but requires new application |
| Prepayment | No prepayment penalty | No prepayment penalty. Origination fee is non-refundable on early payoff. |
| Operating since | 2023 | 2016 |
| Availability | 39 states (excludes 11) | All 50 states |
Rates and fees
On a $100,000 loan at 50% LTV, Arch (Standard) is the cheaper borrow: an all-in effective APR of about 10.49% versus 14.18% at Unchained, a gap of roughly 3.69 points before fees. Origination fees differ: 1.49% at Arch (Standard) versus 2% at Unchained.
Custody and counterparty risk
Arch (Standard) holds collateral via qualified custodian (Anchorage Digital), while Unchained uses collaborative multisig (Fortis Bank). With Unchained, the collateral sits in a collaborative multisig where you hold one of the keys, so no single party can move your Bitcoin alone, the closest model here to self-custody. Neither rehypothecates collateral.
Loan terms and flexibility
Arch (Standard) offers 1 to 12 months; interest-only; rollover available at maturity; Unchained offers 90 to 360 days; standard is 360 days (interest-only, principal at maturity); refinance available at maturity but requires new application. Neither penalizes early repayment.
Leverage, limits, and speed
Arch (Standard) allows the higher maximum LTV (60% vs 50%), so you can borrow more per Bitcoin, at the cost of a thinner buffer before a margin call if the price falls. Minimums differ: $5,000 at Arch (Standard) versus $150,000 at Unchained. Funding runs same day to 1 day at Arch (Standard) and 2 days at Unchained.
Track record and availability
Unchained has the longer history, operating since 2016 versus 2023. On availability, Arch (Standard) is not available in 11 states, while Unchained covers all 50 states.
Strengths and trade-offs
Arch (Standard)
- Anchorage Digital qualified custody
- $100M Lloyd's of London insurance
- Zero rehypothecation, explicit policy
- Segregated wallets
- $75M raised (2024)
- 1.5% origination fee plus 2.5% liquidation fee
- Not available in CA, DE, MS, MT, NV, ND, RI, VT
- Company founded 2023
Unchained
- Multisig collaborative custody, borrower holds 1 of 3 keys
- Non-rehypothecation verifiable on-chain
- Operating since 2016
- Bitcoin-only focus
- $150K minimum loan, not suitable for smaller borrowing needs
- Commercial-only positioning
- Rates by consultation, not publicly posted
About each lender
Arch (Standard)
Bitcoin-backed loan with Anchorage Digital qualified custody, segregated wallets, $100M Lloyd's of London insurance, and explicit no-rehypothecation policy. Multi-collateral: BTC, ETH, SOL.
Unchained
Operating since 2016. Multisig collaborative custody: borrower holds 1 of 3 keys. Non-rehypothecation is verifiable on-chain. $150K-$1M loan range. Rates by consultation; not publicly posted.
Frequently asked
Is Arch (Standard) or Unchained cheaper?
On a $100,000 loan at 50% LTV, Arch (Standard) is cheaper, with an all-in effective APR of about 10.49% versus 14.18%.
Which has lower custody risk, Arch (Standard) or Unchained?
Arch (Standard) uses qualified custodian and Unchained uses collaborative multisig. Neither rehypothecates pledged collateral.
Can I borrow more with Arch (Standard) or Unchained?
Arch (Standard) allows the higher maximum LTV (60% versus 50%), so you can borrow more per Bitcoin pledged. The trade-off is a thinner buffer before a margin call if Bitcoin's price drops.
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borrowonbitcoin.com is a comparison publisher, not a lender or financial advisor. Rate data verified June 9, 2026. How we verify rates · Full disclosures.