Google and Goldman Sachs are two of the most active corporate investors in blockchain companies, according to a report.
Blockchain is the underlying technology behind cryptocurrencies like bitcoin. But it is also being developed for use in a variety of industries from finance to insurance, promising cheaper and faster processes.
The number of corporate investors in blockchain companies hit a record high of 91 this year, just behind the 95 venture capital firms in the space, according to a report by data firm CB Insights published Tuesday.
So far this year, there have been 42 equity investment deals by corporates, totaling $327 million. This is just behind the $390 million for the whole of 2016.
Japanese financial services firm SBI Holdings is the most active corporate investor, having stakes in eight blockchain firms. These include R3, a consortium of banks working on new applications for blockchain technology, and Kraken, which is an exchange for people to trade cryptocurrency.
Alphabet-owned Google is the second-most active corporate, with investments in bitcoin wallet company Blockchain, and Ripple, a company that is working on money transfers using blockchain technology.