Chain.com raised $30m in equity funding and appointed Jim Robinson to its Board
Summary
“Applied intelligently, blockchain networks fundamentally improve how assets move between parties, and we are thrilled to be partnering with the organizations we believe are best positioned to capitalize on the inevitable changes in market structure that are on the horizon.” “Visa’s investment in Chain underscores our long-standing commitment to explore technology, like the blockchain, that could have the potential to advance secure and convenient digital payments for our clients and their customers,” said Jim McCarthy, executive vice president innovation and strategic partnerships at Visa. These networks can facilitate the issuance and transfer of asset types as varied as financial securities, currencies, gift cards, mobile minutes, loyalty points and energy credits. “We hope to leverage Chain’s platform to rapidly test and develop applications as part of Citi’s multi-faceted blockchain strategy which has the potential to greatly enhance our customers’ experience well beyond just currencies and payments.” The company, which launched just over a year ago, already works closely with several large institutions, including First Data and Nasdaq. We are excited to further our partnership with them through Nasdaq’s investment in the company.” Chain partners with leading institutions to design, deploy and operate blockchain networks that are built specifically for particular markets and assets. The platform, which is based on the open and interoperable bitcoin protocol, enables institutions to create, issue, store and transfer digital assets on private networks purpose-built for a given market.
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