Visa, Nasdaq, Others Invest $30 Million in Bitcoin-Related Startup

Chain Inc. works with banks to develop a new system of trading and transferring assets

Bitcoin continues to be a controversial digital currency. But the financial world is buzzing about new applications for the blockchain, the underlying technology that makes Bitcoin possible. Photo: Getty

Wall Street is putting more money behind a technology it once dismissed as a fad.

Some of the biggest companies in the financial sector have invested $30 million in Chain Inc., a San Francisco-based company that works with banks and other institutions to develop ways to trade and transfer financial assets using the system that underpins the virtual currency Bitcoin.