Visa, Nasdaq and other giants invest $30 million in blockchain company Chain

Wall Street is pouring more money into a technology that was once seen as little more than a fad.

Some of the biggest names in finance have invested $30 million in a San Francisco blockchain startup called Chain.

Investors include financial giants such as Visa, Nasdaq, Citi Ventures, RRE Ventures, Capital One Financial, Fiserv, and Orange SA.

Adam Ludwin, CEO of Chain, said:

“Intelligent blockchain networks have the power to radically improve the movement of assets, and we are excited to be working with these institutions as we believe they can take advantage of the inevitable changes to the market landscape that are coming.”

The investors who backed Chain also pledged to jointly establish a “blockchain working group” to promote continuous and regular discussions on blockchain applications. The working group is expected to meet twice a year.

In addition, the company said RRE Ventures CEO Jim Robinson III will join the company's board of directors, and Ludwin will also serve as head of RRE.

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