VMPL
New Delhi [India], October 29: Unocoin, which has been serving Indian Bitcoin users since 2013 and has over 2.5 million registered users, today announced UnocoinXPledg, India's first Bitcoin lending service with multisig wallet security. Powered by Unocoin and available on pledg.in, the service helps eligible users pledge their Bitcoin and obtain personal loans in INR from a regulated non-banking financial company (NBFC). Until now, Indian Bitcoin holders who needed rupees had one practical option: sell. UnocoinXPledg gives them another option: instead of selling, HOLD BTC and get rupees for urgent needs.
“With UnocoinXPledg, we are introducing a new way for Indian Bitcoin holders to access liquidity without having to sell their Bitcoin. By combining Unocoin’s wallet with multisig security and lending through a regulated NBFC, we aim to make borrowing against digital assets more accessible while prioritising the security of pledged Bitcoin. This launch marks an important step in the evolution of India’s digital asset ecosystem, offering users greater flexibility in how they manage their holdings and meet their financial needs," said Harish B.V Co-Founder, COO, Unocoin.
“Selling Bitcoin to cover a short-term need is the most expensive decision a long-term holder can make. Pledg lets people unlock rupee liquidity without giving up their Bitcoin through a regulated NBFC and transparent individual multisig wallet provided by Unocoin.” — B Vijay Nishanth, Co-founder & CEO, Pledg
Eligible users can pledge their Bitcoin through the service, with existing Unocoin users potentially benefiting from a simplified onboarding process using their existing KYC, subject to consent and verification. The NBFC assesses each application and, if approved, disburses the loan in INR. Once the loan is repaid, the pledged Bitcoin is released back to the user. The collateral is held in an individual 2-of-3 multisignature wallet, with three key holders each holding one key and any two required to authorise a transaction. This arrangement is designed so that no single party, including Unocoin, can move the user's Bitcoin independently.
Borrowing against Bitcoin is already established globally. Coinbase has offered Bitcoin-backed loans to US customers since January 2025, Unchained Capital has been providing such loans in 2-of-3 multisig wallets since 2017, and Bloomberg reported in October 2025 that JPMorgan would let institutional clients pledge Bitcoin as collateral. UnocoinXPledg brings this model to Indian bitcoin holders for the first time.
Risk disclosure: The loan is assessed and provided by the lending institution, subject to eligibility, terms and approval. Bitcoin collateral is subject to price fluctuations, repayment obligations and liquidation risks. Crypto products are unregulated and can be highly risky; there may be no regulatory recourse for any loss from such transactions.
About Unocoin
Founded in 2013 by Dr. Sathvik Vishwanath and Harish B.V., Unocoin is one of India's earliest Bitcoin platforms, with over 2.5 million registered users. Unocoin builds the infrastructure that lets Indians buy, sell, store and now borrow against Bitcoin safely. Learn more at [unocoin.com].
About Pledg
Pledg is a digital platform and facilitator for Bitcoin-backed loans built for India. Borrowers pledge Bitcoin and receive INR loans from a regulated NBFC partner, with collateral secured in a per-loan individual multisig wallet in Unocoin. Learn more at [pledg.in].
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