Chain, a US-based fintech provider working on blockchain technology, has raised a $30m series B round backed payment processing service Visa, telecoms firm Orange and stock exchange Nasdaq.
Financial services providers Capital One and Citi, which participated through its investment vehicle Citi Ventures, and financial services technology developer Fiserv also invested in the round.
Meanwhile, Khosla Ventures, RRE Ventures, Thrive Capital, SV Angel and assorted angel investors returned for the series B funding.
Founded in February 2014, Chain is working on financial services based on blockchain, best known as the underlying technology of cryptocurrency bitcoin. The technology provides cryptographic security while enabling instant and low-cost transactions.
Visa, Orange, Nasdaq, Capital One and Citi have entered a partnership agreement with Chain and jointly formed the Blockchain Working Group, which will look at bringing the technology to new markets and ensure interoperability.
The group will meet twice a year, and also include as yet unnamed academics, researchers and developers working on blockchain products.
Chain previously closed a $9.5m series A round in August 2014, backed by Homebrew, 500 Startups, Pantera Capital, RRE Ventures, Thrive Capital, SV Angel and angel investors. RRE, Thrive and SV had also contributed to an earlier $4.2m seed round.