Blockchain startup Chains raises $30 million in venture capital

Blockchain technology startup Chain has raised $30 million in venture capital from financial services firms including Capital One, Fiserv and Visa.

French telecom giant Orange SA, which led the funding round, revealed a few months ago that it was planning to invest in bitcoin startups, just like Nasdaq, and has now partnered with Chain and Citi Ventures.

Investors from firms such as RRE Ventures, Khosla Ventures, Thrive Capital, and Silicon Valley Angels also participated, as did former Bank of America CEO David Coulter, X Prize Foundation CEO Peter Diamandis, and MongoDB co-founder Kevin Ryan.

In a statement, Chain CEO Adam Ludwin highlighted the potential benefits to financial service providers as the technology matures.

Ludwin said:

“Blockchain networks are intelligent and fundamentally improve the way assets are transferred between multiple parties, and we are excited to be working with the organization we believe is best positioned to capitalize on this structural change in the market.”