Chain to shut down free Bitcoin API service

Blockchain technology startup Chain has announced that it will shut down its free Bitcoin API service by the end of this year.

In September , Chain received $ 30 million in funding from giant companies such as Visa, Nasdaq, and Citi Ventures. In a new email to users yesterday , Adam Ludwin , co-founder and CEO of Chain , said that the product will no longer be available after December 31 .

“ As you all know, over the past year Chain has shifted its focus to using the blockchain network to solve problems for financial institutions and manage digital assets. As we move into 2016 , we will integrate Bitcoin functionality into our enterprise platform and we will no longer support free projects on the Bitcoin network. ”

“ Chain is in the process of migrating existing API clients and will not interrupt service until all clients are addressed,” Ludwin told CoinDesk .

In the statement, he also said that former Chain customers have no shortage of new vendor options.

“ The bitcoin industry has matured a lot, and there are many providers offering services that Chain Free customers can choose from. ”