Wall Street embraces Bitcoin and blockchain technology

econotimes.com / September 14, 2015 6:17 AM UTC

Financial markets world over are slowly warming up to bitcoin and the underlying blockchain technology. In the past six years, not only hundreds of start-ups have emerged, but also big banks and investment firms are investing in these bitcoin-based companies.

Wall Street giants such as Visa, Nasdaq and Citi Ventures have invested $30 million in Chain.Com, a San Francisco-based blockchain developer platform that works with financial institutions to develop ways to trade and transfer financial assets using blockchain technology.

“We believe in the power of blockchain technology to transform how financial assets are transferred, but it has to be done with the right partners to insure it gets off the ground,” said Adam Ludwin, CEO of Chain, in an interview.