Some of the biggest companies in the financial sector have invested $30 million in Chain Inc., a San Francisco-based company that works with the blockchain.

According to The Wall Street Journal, six corporations allocated money for Chain Inc.:

Earlier this year, one of the companies, Orange, announced the decision to invest in bitcoin companies. In April, Bloomberg reported that Orange planned to invest $20,000 in each of the two pre-selected companies. At that time, Orange did not mention the names of the companies.

Chain Inc., a company located in San Francisco, provides bitcoin infrastructure including asset management platform for entrepreneurs and financial institutions. The company focuses on transferring assets using the blockchain. Last year, Chain Inc. closed a $9.5M round of funding led by Khosla Ventures.

Earlier this year, NASDAQ announced Chain Inc. to be the first company to trade shares on Nasdaq Private Market. This makes Chain Inc. the first entity to start finalising settlements and keeping share records through the blockchain.

Chain Inc. is not the first bitcoin company to receive some extra money from the Wall Street companies. This March, four firms formed the Bitcoin Alliance to educate Wall Street on bitcoin.

Roman Korizky