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Crypto exchange Coinbase has acquired blockchain intelligence startup Neutrino, CoinDesk reported. The terms of the acquisition have not been disclosed
Founded in 2016, Neutrino is a blockchain intelligence firm focused on developing solutions for monitoring, analyzing and tracking cryptocurrency flows across multiple blockchains, providing actionable insight on the whole cryptocurrency ecosystem.
Speaking with CoinDesk, Coinbase’s director of engineering and product, Varun Srinivasan said that Neutrino would help in identifying “which new tokens are gaining value and gaining traction in the space.”
In an online post, Coinbase said that Neutrino will continue to operate as a standalone business based out of Coinbase’s London office.
“By analyzing data on public blockchains, Neutrino will help us prevent theft of funds from peoples’ accounts, investigate ransomware attacks, and identify bad actors. It will also help us bring more cryptocurrencies and features to more people while helping ensure compliance with local laws and regulations,” it said.
Commenting on the acquisition, Neutrino CEO Giancarlo Russo said that it was an important milestone for innovation in Italy, where it is based, adding:
“We decided to join Coinbase because we’re totally aligned with the company’s mission of building an open financial system and we share the same commitment to regulation, compliance and security in the cryptocurrency space.”
This marks Coinbase’s second acquisition this year following Blockspring last month. The company also made a number of acquisitions in 2018 including mobile ethereum wallet Cipher Browser, digital identity startup Distributed Systems, and Earn.com.
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